Consumer Price Index
The Consumer Price Index (CPI) measures the average change over time in the prices paid by consumers for a basket of goods and services, reflecting inflation or deflation trends in an economy.
|Jan 1, 1983 - Jan 1, 2025
About the Consumer Price Index
The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them.
Changes in the CPI are used to assess price changes associated with the cost of living. The CPI is one of the most frequently used statistics for identifying periods of inflation or deflation.
Key Points
- •The CPI measures the average change in prices over time that consumers pay for a basket of goods and services
- •It is widely used as an economic indicator and as a means of adjusting income payments
- •The Bureau of Labor Statistics (BLS) calculates the CPI monthly
- •Core CPI excludes volatile food and energy prices