consumer price index


noun

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. Abbreviation: CPI

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Formerly cost-of-living index .

Origin of consumer price index

First recorded in 1945–50
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020

Cultural definitions for consumer price index

consumer price index

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.

The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.