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TeachMeFinance.com - explain Consumer Price Index consumer price index (CPI) -- An index of the cost of living commonly used to measure inflation . The Bureau of Labor Statistics publishes the CPI-U, an index of consumer prices based on the typical market basket of goods and services consumed by all urban consumers during a base period, and the CPI-W, an index of consumer prices based on the typical market basket of goods and services consumed by urban wage earners and clerical workers during a base period. another definition... Consumer price index -- A measure of the U.S. cost of living as tabulated by the U.S. Bureau of Labor Statistics based on the actual retail prices of a variety of consumer goods and services at a given time and compared to a base period that is changed from time to time. another definition... Consumer Price Index -- a monthly measure of changes in the prices of goods and services consumed. The index is compiled by the U.S. Bureau of Labor Statistics. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.