👉 Miscellaneous in the context of U.S. Producer Price Index
The Producer Price Index (PPI) is the official measure of producer prices in the economy of the United States. It measures average changes in prices received by domestic producers for their output. The PPI was known as the Wholesale Price Index, or WPI, up to 1978. It is published by the Bureau of Labor Statistics and is one of the oldest economic time series compiled by the Federal government of the United States.
The origins of the index were in an 1891 U.S. Senate resolution authorizing the Senate Committee on Finance to investigate the effects of the tariff laws "upon the imports and exports, the growth, development, production, and prices of agricultural and manufactured articles at home and abroad".
- ⭐ Core Definition: Miscellaneous
- 👉 Miscellaneous in the context of U.S. Producer Price Index
- Miscellaneous in the context of Producer price index
Miscellaneous in the context of Producer price index
A producer price index (PPI) is a price index that measures the average changes in prices received by domestic producers for their output. Formerly known as the wholesale price index between 1902 and 1978, the index is made up of over 16,000 establishments providing approximately 64,000 price quotations that the U.S. Bureau of Labor Statistics (BLS) compiles each month to represent thousands of different goods and services.
Its importance is being reduced by the steady decline in manufactured goods as a share of spending. When manufacturers face increased production costs (input costs), businesses must reconsider their pricing approach by either:
View the full Wikipedia page for Producer price index