MLchartDataset catalogue

Consumer Price Index

Term · Economic statistics · MLC-T-ECS-000373

A measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Note: A market basket is a hypothetical set of goods and services designed to approximate what is purchased by some specific economic actor(s). In the case of the CPI, it is designed to approximate the purchases for consumption of a representative consumer to estimate changes in the cost of living.

Table 1. Record
IdentifierMLC-T-ECS-000373
FieldEconomic statistics
ReferencesBLS Glossary
Record as JSON 
{
  "id": "MLC-T-ECS-000373",
  "term": "Consumer Price Index",
  "field": "Economic statistics",
  "definition": "A measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.\n\nNote: A market basket is a hypothetical set of goods and services designed to approximate what is purchased by some specific economic actor(s). In the case of the CPI, it is designed to approximate the purchases for consumption of a representative consumer to estimate changes in the cost of living.",
  "references": [
    "BLS Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/consumer-price-index/"
}

Record 367 of 2,141 in Economic statistics terminology (MLC-0116). Request the full dataset.