Price indices are among the most important statistical measures used in planning and economic studies. They help compare various economic phenomena and serve to identify the economic changes across countries. Additionally, price indices reflect structural changes in both the productive and consumer sectors of the society. They serve as a gauge for planning, identifying inflation and economic regression, and forecasting future trends in various economic variables.
The price index measures how a phenomenon changes over time in terms of price, quantity and value The period used as a reference point is called the base period, while the period being compared is known as the comparison period.
Due to the importance of price indices, Dubai Data and Statistics Establishment covers key economic indices, including the Consumer Price Index, Producer Price Index, Industrial Production Index, Foreign Trade Index and Construction Cost Index.
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