Consumer price index (redirected from cost of living)

Consumer Price Index (CPI)

The CPI, as it is called, measures the prices of consumer goods and services and is a measure of the pace of US inflation. The US Department of Labor publishes the CPI every month.

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consumer price index (CPI)

A measure of the relative cost of living compared with a base period (currently 1982-84). The CPI can be a misleading indicator of the impact of inflation on an individual because it is based on the spending patterns of an urban family of four. Also called price index. Compare producer price index. See also GDP deflator.

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Consumer price index (CPI). The consumer price index (CPI) is compiled monthly by the US Bureau of Labor Statistics and is a gauge of inflation that measures changes in the prices of basic goods and services.

Some of the things it tracks are housing, food, clothing, transportation, medical care, and education.

The CPI is used as a benchmark for making adjustments in Social Security payments, wages, pensions, and tax brackets to keep them in tune with the buying power of the dollar. It's often incorrectly referred to as the cost-of-living index.