Consumer Price Index (Noun)
Meaning
An index of the cost of all goods and services to a typical consumer.
Classification
Nouns denoting communicative processes and contents.
Examples
- The government uses the consumer price index to measure inflation and adjust taxes and benefits accordingly.
- The economist studied the consumer price index to understand the effects of the recent economic downturn on household expenses.
- The consumer price index is released monthly by the Bureau of Labor Statistics to track changes in the price of goods and services.
- The central bank uses the consumer price index to set monetary policy and control inflation.
- The increase in the consumer price index was largely driven by higher prices for housing and healthcare.