A weighted average of prices or quantities, where the weights used are proportional to the quantities or prices of the most recent period. Where p_ij and q_ij are the prices and quantities of goods i = 1, 2,…, N in period j, 0 labels the base period, and t the latest period, the current-weighted, or Paasche, price index is given by

and the current-weighted, or Paasche, quantity index is given by