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Consumer Price Index (CPI)

Q: What indicator does the government use to measure inflation?

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Consumer Price Index (CPI)

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a measure that examines the weighted average of prices of a basket of consumer goods and services

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Consumer price index is a way to measure the averages of prices of consumer goods and services. It is calculated by taking price changes of items or goods and averaging them. Consumer price index is used to assess price changes associated with the cost of living.

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Consumer Price Index - United Kingdom - was created in 1947.

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The Consumer price index is calculated based on a random sampling done by the US labor department

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