The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. It is a critical indicator used to understand inflation and the cost of living.
A combination of goods, in statistically derived proportions, used to track price changes. It is used in such indicators as the Consumer Price Index (CPI), and the Producer Price Index (PPI).
A price index traces the relative changes in the price of an individual good, or a market basket of goods, over time. Common examples include the Consumer Price Index (CPI) and the Producer Price Index (PPI).
