ABSTRACT
The price-relatives presented in the following pages are prices from the Primary Tables, expressed as percentages of the mean price in a basic period. The basic period for the tables in this volume, that is to say for the Mercantile Era, is the period of 25 harvest years 1720 to 1744. The mean price for each series, described as the index base and abbreviated “ LB.”, is the simple arithmetic average of the prices for each year represented during the basic period in that series. The basic period 1720-44, selected as fairly central in time and not disturbed by marked price fluctuations, is the same for all the series in this volume. The same period, or that corresponding to it in calendar years, namely 1721-45, has been adopted in other studies covered by the work of the International Scientific Committee. The tables of price-relatives, accordingly, make it easy to compare the price movements for different articles, not only in England but in other countries.
