Definition: Implicit price index

Category: Prices

An indicator of the price evolution of all goods and services that make up gross domestic product. 

The OECD defines the term as the ratio of a value over a volume index. http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Glossary:Implicit_price_index,_GDP
Source:
Statistics Explained, a distinct section of the official Eurostat website presenting all statistical topics in an easily understandable way, Glossary
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