Price level
Hypothetical measure of overall prices / From Wikipedia, the free encyclopedia
For a related discussion, see Price index. For macroeconomic determination of the price level, see AD–AS model.
The general price level is a hypothetical measure of overall prices for some set of goods and services (the consumer basket), in an economy or monetary union during a given interval (generally one day), normalized relative to some base set. Typically, the general price level is approximated with a daily price index, normally the Daily CPI. The general price level can change more than once per day during hyperinflation.