Concept information
Preferred term
Consumer Price Index
Definition
- The consumer price index (CPI) is a price index whose movement reflects changes in the prices of goods and services purchased by the average consumer. It is the ratio of the cost of a basket of goods and services at current prices to the value of the identical items at constant prices of a base year. [Source: Encyclopedia of Health Care Management; Consumer Price Index (CPI)]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/Consumer_Price_Index
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