consumer price index

noun

1. an index of the changes in the cost of goods and services to a typical consumer, based on the costs of the same goods and services at a base period. CPI

consumer price index

1. An index published by the government each month of prices for a representative sample of goods and services. The consumer price index was formerly known as the cost-of-living index.

Word History and Origins

Origin of consumer price index¹

First recorded in 1945–50

Related Words

• price index 
• retail price index