Definition, Meaning & Synonyms

global-price

noun

/ˈɡloʊbəl praɪs/

Definition

The overall price level of goods and services across the world.

Examples

The global price of oil significantly impacts the economy of many countries.
Changes in the global price of agricultural products can affect food security worldwide.

Meaning

Global price refers to the aggregate price level that reflects the cost of goods and services when considering the economies of different countries, encompassing various currencies and market dynamics.