What does CPI stand for in economics?

CPI: CPI stands for Consumer Price Index. It is a measure of the change in prices paid by consumers for the things that they buy. It is useful as a measure of the amount of inflation (price increases) in the economy, and is compiled by the Bureau of Labor Statistics.

Where is the CPI reported?

In the US the CPI is usually reported by the Bureau of Labor Statistics. An English economist by the name of Joseph Lowe first proposed the theory of price basket index in 1822.

What does a country's CPI measure?

A country’s CPI tracks the prices of everyday goods and services that households buy. This covers areas including food, clothing, transport and leisure spending. By averaging out price changes across a basket of these goods, economists can work out how prices are rising or falling and how this affects the cost of living.

What is consumer price indices (CPIs)?

"Consumer Price Indices (CPIs)" in OECD.Stat is a new dataset that contains all CPI series previously available in three different datasets: 'Consumer Prices', 'National Consumer Price Indices (CPIs) by COICOP divisions' and 'Harmonised Indices of Consumer Prices (HICPs) by COICOP divisions'.