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

However, inflation fell more than expected to 2.8 percent in February, according to the annual consumer price index (CPI). —Thomas G. Moukawsher, Newsweek, 21 Mar. 2025

However, inflation kept rising, eventually hitting 9% as measured by the consumer price index, and the Fed was forced to respond with a series of aggressive interest rate hikes not seen since the early 1980s. —Jeff Cox, CNBC, 19 Mar. 2025

While inflation slowed unexpectedly in February based on the consumer price index, some economists believe another key measure the Fed watches more closely, due out later this month, likely moved higher. —Paul Davidson, USA TODAY, 18 Mar. 2025

There’s some good news in the battle against inflation: The consumer price index rose 2.8% year-over-year in February, better than economists expected. —Danielle Chemtob, Forbes, 13 Mar. 2025

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