CPI
The CPI, which stands for ‘Consumer Price Index’, is an economic indicator used to measure the price development of goods and services purchased by consumers over time. The CPI is a way of assessing inflation, i.e. the general rate of increase in the prices of goods and services in an economy.
The consumer price index is calculated by collecting price data on a representative ‘basket’ of goods and services that consumers usually buy. This basket includes a variety of products, such as food, clothing, housing, transport, education, health care and other common goods and services. The prices of these items are monitored periodically over time.
