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Definition of price index noun from the Oxford Advanced Learner's Dictionary

price index

noun
 
/ˈpraɪs ɪndeks/
 
/ˈpraɪs ɪndeks/
(also retail price index, RPI)
[singular]
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  1. (in the UK) a list of the prices of some ordinary goods and services which shows how much these prices change each month
See price index in the Oxford Advanced American Dictionary
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