How to calculate a comparable price

One means of statistical analysis of socio-economic development is the comparison of different indicators for different years. However, the realities of the market economy is such that prices for the same product is constantly growing. Therefore, the comparison in absolute terms loses all meaning. In this case, use comparable rates.

Instruction

1. Comparable price is the price a particular year or on a certain date, conventionally taken as a base in comparing the volume of production, turnover and other economic indicators in monetary terms for different periods. The use of comparable prices enables to exclude impact of inflation on the dynamics of volumes of production, earnings, labour productivity, capital productivity, i.e., all indicators that use value change in output.
2. To illustrate the use of comparable prices should refer to real case examples. The task in statistics is often required to bring data rates comparable magnitude. It is usually indicative of a well-known inflation rate over the period. So for example, you want to compare prices 2008 and 2010, if you know that the price for production in 2010 amounted to 126 000 rbl., and inflation in comparison with 2008 has increased to 20%. To solve the problem, adjust the price of 2010 by 20%, i.e. 126 000 / 1,2 = 105, 000. Thus, the volume of production in 2010 for the sum of 126 000 rubles corresponds to the amount of 105 000 RUB. in 2008.
3. Similarly, calculated in comparable prices according to predicted values. For example, it is known that inflation in 2012 will be 15% relative to 2010 prices. Returning to the given conditions, it is required to calculate the price level of 2012, while maintaining the same production volume. To solve the problem, perform the adjustment of prices for 2010 on 15%, i.e. 125 000 ? 1,15 = 143 750 RUB.