Index numbers
Index numbers measure changes or differences, typically changes over time. For example, changes in average wages over time (the Average Earnings Index (AEI)) and changes in labour costs (the Index of Labour Costs per Hours). An economic index number is an average of the many different changes in price (for example wages) or quantity of the goods and services (for example employees) included in the index. Different methods are used to calculate the average depending on the data and the intended use of the index.
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Average Earnings Index (AEI)
Key indicator of how fast earnings or pay, are growing in Great Britain
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Index of Labour Costs per Hour (ILCH)
The index is produced by the Office for National Statistics and provides a key measure of inflation
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Index numbers
Index numbers, prices and inflation measurement from general methodology
