Consumer Price Index, an economic indicator that measures the average change in prices of goods and services purchased by consumers. Used to track inflation and adjust wages, benefits, and contracts.
Acronym for Consumer Price Index, developed in early 20th century. The concept emerged from need to measure cost of living changes during World War I, becoming standardized economic terminology.
The CPI is like an economic thermometer that tells us whether life is getting more expensive - it tracks everything from groceries to gasoline! Central banks watch this number obsessively because it helps them decide whether to raise or lower interest rates.
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