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consumer price index |
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Consumer Price Index: see cost of living cost of living, amount of money needed to buy the goods and services necessary to maintain a specified standard of living . The cost of living is closely tied to rates of inflation and deflation. ..... Click the link for more information. . consumer price index (CPI)Measure of living costs based on changes in retail prices. Consumer price indexes are widely used to measure changes in the cost of maintaining a given standard of living. The goods and services commonly purchased by the population covered are priced periodically, and their prices are combined in proportion to their relative importance. This set of prices is compared with the initial set of prices collected in the base year to determine the percentage increase or decrease. The population covered may be restricted to wage and salary earners or to city dwellers, and special indexes may be used for special population groups (e.g., retirees). Such indexes do not take into account shifts over time in what the population buys; when modified to take subjective preferences into account, they are called constant-utility indexes. Consumer price indexes are available for more than 100 countries. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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I have no faith in the Consumer Price Index numbers. Private owners, public agencies that do budgeting and design and contractors should all be aware that construction materials prices are likely to keep rising at a much faster rate than the 3-to-4-percent increase in the consumer price index (CPI) or broad producer price index (PPI) for finished goods," says AGC's Chief Economist Ken Simonson. The August Consumer Price Index and Producer Price Index reports suggest inflationary forces are tame. |
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consumer price index
