Economic values expressed in current prices A general increase in prices will cause nominal prices to rise even if there is no real change in the value (see real)
A nominal price or sum of money is very small in comparison with the real cost or value of the thing that is being bought or sold. All the ferries carry bicycles free or for a nominal charge
A measure based on current-dollar value For income or spending, the nominal level is measured in current dollars See current dollar; compare with real [Back to top]