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

—abbreviation CPI

called also cost-of-living index

Examples of consumer price index in a Sentence

Recent Examples on the Web

The December consumer price index report will offer a final read on a year in which inflation gradually eased on paper, even as many Americans continued to feel squeezed by high prices. —Rachel Barber, USA Today, 11 Jan. 2026

On the economic front, Tuesday’s December consumer price index will matter far more than the latest labor data. —Luke Fountain, CNBC, 10 Jan. 2026

According to the latest consumer price index figures from the Bureau of Labor Statistics, the average prices for milk, butter and cheese are down. —Cheryl V. Jackson, IndyStar, 9 Jan. 2026

Mortgage rates began to climb as inflation spiked coming out of the global pandemic, with the consumer price index hitting a four-decade high in 2022. —CBS News, 9 Jan. 2026

Word History

First Known Use

1945, in the meaning defined above

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