consumer price index

noun

: an index measuring the change in the cost of typical wage-earner purchases of goods and services expressed as a percentage of the cost of these same goods and services in some base period

called also cost-of-living index

Examples of consumer price index in a Sentence

Recent Examples on the Web

Key Facts Inflation: Inflation has been far worse during the Biden administration, up 20.1% over the first 45 months of Biden’s term compared to 7.1% during Trump’s first 45 months, according to the government’s consumer price index. —Derek Saul, Forbes, 1 Nov. 2024

On a 12-month basis, the index, which measures wages, salaries and benefits, increased 3.9%, compared with a 2.4% increase in the consumer price index. —Jeff Cox, CNBC, 31 Oct. 2024

Overall consumer prices are up nearly 20% since early 2021 and groceries are up 21%, according to the consumer price index. —Paul Davidson, USA TODAY, 30 Oct. 2024

Since then, core inflation in the consumer price index (CPI) has descended from a 3.4-percent annual increase to a 3.2-percent annual increase. —Tobias Burns, The Hill, 30 Oct. 2024

Word History

First Known Use

1945, in the meaning defined above

Legal Definition

consumer price index

noun

consumer price in·​dex

: an index measuring the change in the cost of typical wage-earner purchases of goods and services in some base period

called also cost-of-living index