consumer price index

WordReference Random House Unabridged Dictionary of American English © 2026

consum′er price′ in′dex, 

1. Business an index of the changes in the cost of goods and services to a typical consumer, based on the costs of the same goods and services at a base period. Abbr.: CPI  Also called cost-of-living index. 

• 1945–50

WordReference Random House Unabridged Dictionary of American English © 2026

cost′-of-liv′ing in′dex, 

1. Business a former term for consumer price index. 

• 1910–15