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TeachMeFinance.com - explain Price index Price index The term 'Price index ' as it applies to the area of agriculture can be defined as ' Current price expressed as a proportion to the same price in an earlier time period, commonly called the base period. Monthly price indexes computed by the National Agricultural Statistics Service are the index of prices received by farmers and the index of prices paid by farmers for commodities and services, interest, taxes, and farm wage rates. The ratio of these two indexes is referred to as the parity ratio'. Previous 5 Terms: Preventive Services PRIA Priapean Price Price elasticity of demand Next 5 Terms: Price support Pricer Pricer Or Repricer Prices paid index Prices received index About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.