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English definition of “consumer price index”

consumer price index

noun [C, usually singular]
 
 
( abbreviation CPI)
ECONOMICS a list of the prices of basic goods and services, showing how they change in a particular period of time, as a way of measuring inflation: The consumer price index hit a six-month high in October. The consumer price index was up 3.4%. → See also cost of living index, retail price index
(Definition of consumer price index from the Cambridge Business English Dictionary © Cambridge University Press)
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