Question

This is an economic indicator that is computed by the bureau of labor statistics and is meant to measure the average change in prices received by us producers for their goods over a period of time.

Answer 1

The answer is: Producer price Index

Producer price index will define the price point where both producers and consumers deemed as 'fair' for the exchange of a good or service.

Generally, researchers use this index as an indicator of average income and the cost of living. If the producer price Index is increased in a certain area, we can know that the average cost of living and the average income in that area is also increased.