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CURRENT PRICES - SNA

Statistics Directorate    
French Equivalent: prix courants - SCN

Definition:
A fundamental principle underlying the measurement of gross value added, and hence GDP, is that output and intermediate consumption must be valued at the prices current at the time the production takes place.

This implies that goods withdrawn from inventories by producers must be valued at the prices prevailing at the times the goods are withdrawn and consumption of fixed capital in the System is calculated on the basis of the estimated opportunity costs of using the assets at the time they are used, as distinct from the prices at which the assets were acquired.

Source Publication:
System of National Accounts (SNA), 2008, 1.67.

Cross References:
Current prices – Capital stock
Current prices – OECD
Gross domestic product – current prices

Hyperlink:
http://unstats.un.org/unsd/nationalaccount/docs/SNA2008.pdf

Version Indicator: SNA

Statistical Theme: National accounts

Created on Tuesday, September 25, 2001

Last updated on Monday, April 22, 2013