- Consumer Prices Index
Consumer Prices Index (CPI)United KingdomOne of two consumer price indices used as the domestic measure of inflation in the UK (see also Retail Prices Index (RPI)). The CPI is published by the Office for National Statistics. It measures the average change from month to month in the prices of goods and services purchased by most households in the UK. The government uses the CPI as the basis for its inflation target.The CPI uses the same basic price data as the RPI, but there are some differences. For example, the CPI:• Does not include council tax and a number of housing costs but it does include charges for financial services which are not included in the RPI.• Covers a broader population than the RPI.• Adopts different mathematical formulae to calculate price changes.• Has different classifications for goods and services.For further information, see the Office for National Statistics website .USAA series of statistics measuring the average change from month to month in the prices paid by urban consumers for a representative group of goods and services. The CPI is published by the US Bureau of Labor Statistics, an agency of the US Department of Labor. The CPI is used to:• Measure inflation.• Adjust other economic series (for example, retail sales and earnings) for price change and to convert these series into inflation-free dollars.• Adjust income payments to consumers (for example, cost of living adjustments to Social Security payments).In commercial contracts, rate or price adjustments for future payment obligations are sometimes tied to the corresponding percentage change in a specific CPI index for a set period.The most comprehensive CPI index is the All Items Consumer Price Index for All Urban Consumers (CPI-U) for the US City Average, 1982-84 = 100. The US Bureau of Labor Statistics provides detailed information on the CPI: .
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
consumer prices index — conˌsumer ˈprice index [consumer price index] (BrE also conˌsumer ˈprices index) noun singular (abbr. CPI) … Useful english dictionary
(the) Consumer Prices Index — the Consumer Price Index [the Consumer Price Index] (AmE the Consumer Prices Index) (abbr the CPI) The CPI is calculated by look … Useful english dictionary
Consumer Price Index — consumer price in·dex n: an index measuring the change in the cost of typical wage earner purchases of goods and services in some base period – called also cost of living index; Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. Consumer … Law dictionary
Consumer price index — CPI redirects here. For other uses, see CPI (disambiguation). A consumer price index (CPI) measures changes in the price level of consumer goods and services purchased by households. The CPI, in the United States is defined by the Bureau of Labor … Wikipedia
consumer price index — 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. Abbr.: CPI Also called cost of living index. [1945 50] * * * ▪ economics Introduction… … Universalium
consumer price index — noun an index of the cost of all goods and services to a typical consumer • Syn: ↑CPI, ↑cost of living index • Hypernyms: ↑price index, ↑price level * * * noun the consumer price index US : a list of prices of goods and services that shows how… … Useful english dictionary
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. Bloomberg Financial Dictionary a measure of the aggregate… … Financial and business terms
Consumer Confidence Index — The U.S. Consumer Confidence Index (CCI) is an indicator designed to measure consumer confidence, which is defined as the degree of optimism on the state of the economy that consumers are expressing through their activities of savings and… … Wikipedia
Consumer Price Index — /kənˌsju:mə praɪs ˌɪndeks/ noun an American index showing how prices of consumer goods have risen over a period of time, used as a way of measuring inflation and the cost of living (NOTE: The British equivalent is the Retail Prices Index or RPI.) … Marketing dictionary in english
Consumer Price Index — /kənˌsju:mə praɪs ˌɪndeks/ noun an American index showing how prices of consumer goods have risen over a period of time, used as a way of measuring inflation and the cost of living. Abbreviation CPI (NOTE: The UK term is retail prices index.) ▪▪▪ … Dictionary of banking and finance