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NIESR Commodity Price Index Numbers

Published online by Cambridge University Press:  26 March 2020

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Extract

The NIESR price index numbers (given in table 27 of the Statistical Appendix) were introduced in the first issue of the Economic Review. They have now been substantially revised. First, the weights of the individual prices are now based on the average of the years 1960 to 1962. This reduces the influence of chance fluctuations which may affect a single year's figures; the years 1960-62 were free of any major disturbances. The indices are shown with the year 1961 as 100. Secondly, the price indicators have been substantially revised; the least reliable ones have been dropped and some new prices have been included.

Type
Research Article
Information
National Institute Economic Review , Volume 34 , November 1965 , pp. 98 - 99
Copyright
Copyright © 1965 National Institute of Economic and Social Research

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References

Notes

note (1) page 98 ‘Three new price indices’, National Institute Economic Review No.1, January 1959, page 32.

note (2) page 98 The United Nations price index of primary commodities includes nearly 400 price series, for 47 commodities; these are weighted by their importance in export trade in 1959 and shown as 1958 = 100. The index includes prices arranged by long-term contract (hence it is more stable) as well as market prices.