Retail Price Index reflects the general change in retail prices of commodities

Price Indices

Retail Price Index reflects the general change in retail prices of commodities. The change and adjustment in retail prices directly affect the living expenditure of urban and rural residents, government revenue, purchasing power of residents and the equilibrium of market supply and demand, and the ratio of consumption to accumulation. Therefore, the calculation of retail price index is useful to analyze the changes of the above economic activities.

Consumer Price Index reflects the trend and degree of changes in prices of consumer goods and services purchased by urban and rural residents, and is a composite index derived from the urban consumer price index and the rural consumer price index. Consumer price index can be used to analyze the impact of consumer price change on actual expenditure for living cost of urban and rural residents.

Urban Consumer Price Index reflects the trend and degree of changes in prices of consumer goods and services purchased by urban households. It can be used to observe and analyze the impact of price changes in consumer goods and services on money wages of staff and workers, and provide basis for policy making concerning the living cost and wages of staff and workers.

Rural Consumer Price Index reflects the trend and degree of changes in prices of consumer goods and services purchased by rural households. It can be used to observe the impact of change in retail prices of consumer goods and service prices in rural areas on living expenditure of rural households, and to show the changes in the living standard of peasants. It provides basis for analysis and research on condition of life in rural areas.

Ex-factory Price Index of Industrial Products reflects the trend and degree of changes in general ex-factory prices of all industrial products, including sales of industrial products by an industrial enterprise to all units outside the enterprise, as well as sales of consumer goods to residents. It can be used to analyze the impact of ex-factory prices on gross industrial output value.

Price Index of Investment in Fixed Assets reflects the trend and degree of changes in prices of investment in fixed assets. The investment in fixed assets consists of three components, namely the investment in construction and installation, the investment in purchases of equipment and instrument, and the investment in other items. Price index of investment in fixed assets is calculated as the weighted arithmetic mean of the price indices of the three components of investment in fixed assets. Removing the factor of price change in the aggregates of investment at current prices, this indicator shows the changes in the prices of commodities and fees involved in the investment of fixed assets, and can be used to observe the actual size, growth, structure, and efficiency of investment in fixed assets and provides reliable and scientific data for government planning, management, decision making, and further improving the current national accounting system.

Price Indices for Real Estate include price index for selling houses and buildings, price index for leasing houses and buildings and price index for land transaction. The methods for the compilation of the three sets of indices are similar in that they all use bottom-up approach, under which indices for the item groups are compiled first, and then indices for the major groups, categories, major categories and finally the overall indices are compiles. The indices for item groups, major groups and categories are calculated using the formulae of weighted harmonic mean with sample data as the weights, and the indices for the major categories and the overall indices are calculated using the arithmetic mean with fixed weights.