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consumer price index
noun
: an index measuring the change in the cost of typical wage-earner purchases of goods and services expressed as a percentage of the cost of these same goods and services in some base period
called also cost-of-living index
Examples of consumer price index in a Sentence
Recent Examples on the Web
In the meantime, inflation has cooled dramatically since reaching a 40-year high in June 2022, although the consumer price index remains stubbornly above the Federal Reserve's goal of a 2% annual rate.
—Aimee Picchi, CBS News, 22 Jan. 2025
But the December consumer price index, released Wednesday, likely helped soothe some of those nerves.
—Rocio Fabbro, Quartz, 17 Jan. 2025
From the perspective of consumer prices, the CPI (consumer price index) rose in the fourth quarter, mainly due to the downward impact of food prices, more reflective of the relationship between supply and demand, the core CPI rose for three consecutive months.
—Yaakov Katz, Newsweek, 17 Jan. 2025
The overall annual consumer price index (CPI) rose 2.9% in December, up from 2.7% in November but in line with Reuters' average economist forecast.
—Medora Lee, USA TODAY, 16 Jan. 2025
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Word History
First Known Use
1945, in the meaning defined above
Time Traveler
The first known use of consumer price index was
in 1945
Dictionary Entries Near consumer price index
Cite this Entry
“Consumer price index.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/consumer%20price%20index. Accessed 31 Jan. 2025.
Legal Definition
consumer price index
noun
consumer price in·dex
: 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
More from Merriam-Webster on consumer price index
Britannica.com: Encyclopedia article about consumer price index
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