Quantity Index Number

This index number measures the changes in the level of quantities of items consumed, or produced, or distributed during a year during a year under study with reference to another year known as the base year. Like the price index number, the simplest formula of this index number is as follows:

Q₀₁ = (q1/q₀) x 100

Where, Q₀₁ = quantity index number of the current year on the basis of the base year’s quantity.