Retail price is used for retail sales of goods and services (in retail sales outlets, institutions rendering services to the public etc.). It differs from a wholesale price in a retail margin that covers costs and generates profit in a retail market entity (an entity providing services).
Information on retail prices is provided by quotations of selected goods and services conducted by price collectors of statistical offices in about 28.000 selected sales outlets in 209 selected price survey regions. Price collectors are supposed to quote prices in the same sales outlets for at least one year. Supplementary sources of information on retail prices are price lists, regulations and decisions applicable as the uniform prices ruling throughout the country or its part, issued by the bodies of central-government administration and bodies of territorial self-government entities and economic entities. The price survey covers about 1700 consumer goods and services and about non-consumer goods. The centrally drawn up list of goods and services included in the survey is invariable during the whole year and binding to all price survey regions. The list includes two kinds of products, in terms of the nature of description: - described in detail, with actual parameters precisely specifying their qualities, - constituting a narrow assortment group representing e.g. clothes, underwear, footwear etc., which are supplied in short series onto the market. Within this group, it is the price collector who decides which product to quote.