Weighted price index (HL):weights are attached to each category of good or service, these are then multiplied to the price index of each item of spending for a given year.
The price index a year: the sum of (price x weight) / sum of the weights
Weighted price index (HL):weights are attached to each category of good or service, these are then multiplied to the price index of each item of spending for a given year.
The price index a year: the sum of (price x weight) / sum of the weights