consumer price index

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consumer price index

n. Abbr. CPI
An index of prices used to measure the change in the cost of basic goods and services in comparison with a fixed base period. Also called cost-of-living index.

consum′er price′ in`dex


n.
an index of the change in the cost of common goods and services paid by a typical consumer, expressed as the percentage change in the total cost of these same items over a previous base period. Abbr.: CPI
[1945–50]

consumer price index

A measurement of how much money can buy in terms of a selection of goods and services typically consumed by the average household. If there has been inflation a dollar will buy less than it did previously.
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Noun1.consumer price index - an index of the cost of all goods and services to a typical consumer
price index, price level - an index that traces the relative changes in the price of an individual good (or a market basket of goods) over time