What is the CPI?
The Consumer Price Index (CPI) is an indicator that is used continuously to measure the price changes of households’ representative basket of goods and services.
What is the CPI used for?
The CPI is the statistical instrument that measures inflation.
The CPI is to inflation as a thermometer is to temperature, a barometer is to atmospheric pressure, and a speedometer is to speed.
Inflation can be defined as a continuous and widespread increase in goods and services prices.