Index information in your panel will give you a quick idea for the comparison your prices to competitor prices. Simply the average price always equals to 100 in the index value. To find an index of a product, we divide the price of that product to the average price for that product in the market and then multiply that with 100. For example index value 90 means that the prices of the panel owner are 10% cheaper compared to the average of the prices in the panel. You can check your index values for product level from excel exports and from the index view under products page, for Brand/Category level from reports tab or for overall from the dashboard. 

Here is a quick video about index!