- consumer price index
-
consumer price in·dex n: 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;
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- Consumer Price Index
-
Consumer Price Index (CPI)USAA series of statistics measuring the average change from month to month in the prices paid by urban consumers for a representative group of goods and services. The CPI is published by the US Bureau of Labor Statistics, an agency of the US Department of Labor. The CPI is used to:• Measure inflation.• Adjust other economic series (for example, retail sales and earnings) for price change and to convert these series into inflation-free dollars.• Adjust income payments to consumers (for example, cost of living adjustments to Social Security payments).In commercial contracts, rate or price adjustments for future payment obligations are sometimes tied to the corresponding percentage change in a specific CPI index for a set period.The most comprehensive CPI index is the All Items Consumer Price Index for All Urban Consumers (CPI-U) for the US City Average, 1982-84 = 100. The US Bureau of Labor Statistics provides detailed information on the CPI: {{}}.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
- consumer price index
-
A computation made and issued monthly by the Bureau of Labor Statistics of the federal LABOR DEPARTMENT that attempts to track the price level of designated goods and services purchased by the average consumer.
Dictionary from West's Encyclopedia of American Law. 2005.
- consumer price index
-
A computation made and issued monthly by the Bureau of Labor Statistics of the federal labor department that attempts to track the price level of designated goods and services purchased by the average consumer.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
