Response:
The producer price index
Clarification:
The producer price index serves as an economic indicator that reflects changes in price levels within an economy. It acts as a precursor to the consumer price index.
This index denotes the price measurement that tracks variations in the average prices that producers obtain for their products during a designated timeframe.
The producer price index does not factor in the impact of indirect taxes, whereas the wholesale price index includes this influence.
The calculation is done using the following formula:
PPI = (Current prices received by sellers ÷ Base year prices) × 100