Constant Prices
From Open Risk Manual
Definition
Constant Prices is an assumption used in comparing input–output data for different years. It involves converting tables originally valued at nominal prices for the year in which the data for the table were collected (current prices) to corresponding tables valued at constant prices for some established base time period, usually a base year.
Approach
Constant prices are obtained by directly factoring changes over time in the values of flows or stocks of goods and services into two components reflecting changes in the prices of the goods and services concerned and changes in their volumes (i.e. changes in “constant price terms”)
References
- Eurostat SUT Manual
