Definition of consumer price index
n.
1.
An
index
of
the
cost
of
all
goods
and
services
to
a
typical
consumer
,
calculated
and
published
by
the
United
States
Bureau
of
Labor
Statistics
;
abbreviated
CPI
,
and
usually
referred
to
by
that
acronym
.
The
Bureau
maintains
several
indices
for
different
groups
of
consumers
,
but
the
most
commonly
referred
to
is
the
index
for
"
All
urban
consumers
",
called
the
CPI-U
.
The
increase
of
this
value
each
year
is
one
measure
of
monetary
inflation
.
Related Words
cost-of-living
index
,
CPI
,
price
index
,
price
level
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