Retail Price Index (Noun)
Meaning
An index of changes in retail prices.
Classification
Nouns denoting communicative processes and contents.
Examples
- The country's central bank closely monitors the retail price index to assess inflation and adjust interest rates accordingly.
- A sudden surge in the retail price index raised concerns among policymakers about the economy's ability to sustain growth.
- To keep up with rising living costs, many companies have implemented pay increases linked to the retail price index.
- Analysts carefully studied the retail price index to forecast the likely impact of new trade policies on consumer prices.
- Historical data on the retail price index is essential for understanding the long-term trends in a nation's economy.