Consumer Price Index
A measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. The CPI is used as an economic indicator, including as a measure of inflation. It’s also used to adjust other economic indicators, such as retail sales and hourly and weekly earnings. It’s often used to adjust Social Security payments or income eligibility for government assistance and to provide cost-of-living wage adjustments to millions of American workers.