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ELEMENTARY AGGREGATE

Statistics Directorate    
Definition:
The lowest level of aggregation for which value data are available and used in the calculation of the producer price index (PPI). Elementary aggregates consist of relatively homogeneous sets of goods or services. Their values are used as weights when averaging the elementary price indices associated with them to obtain indices for higher-level aggregates. They may also serve as strata from which the products selected for pricing are sampled.

Context:
The smallest aggregate for which expenditure data are available and used for CPI purposes. The values of the elementary aggregates are used to weight the price indices for elementary aggregates to obtain higher-level indices. The range of goods and services covered by an elementary aggregate should be relatively narrow, and may be further narrowed by confining the goods and services to those sold in particular types of outlet or in particular locations. Elementary aggregates also serve as strata for the sampling of prices.

ILO, IMF, OECD, Eurostat, UNECE, World Bank, 2004, Consumer Price Index Manual: Theory and Practice, International Labour Office, Geneva

http://www.ilo.org/public/english/bureau/stat/guides/cpi/index.htm.

Source Publication:
ILO, IMF, OECD, Eurostat, UNECE, World Bank, 2004, Producer Price Index Manual: Theory and Practice, International Monetary Fund, Washington DC.

Hyperlink:
http://www.imf.org/external/np/sta/tegppi/index.htm

Statistical Theme: Prices and purchasing power partities

Created on Monday, February 17, 2003

Last updated on Friday, July 08, 2005