Consumer & Producer Price Indices
What is the Consumer Price Index?
The Consumer Price Index (CPI) measures changes in the general level of price of consumer good and services purchased by private households. It is the best economic instruments to use when determining the effect of changes in retail prices on the average household budget. The index numbers are also used to compare movements of prices in geographical regions.
What is the Producer Price Index?
The Producer Price Index (PPI) measures the average change over time in the selling prices of services by the producers. The prices included in the PPI are from the first commercial transactions for many products and some services. They exclude any taxes that the purchaser may have to pay. They are often seen as advanced indicators of price changes throughout the economy. Saint Lucia conducted its first Producer Price Index in 2017.