Definition of Consumer Price Index (CPI)

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TeachMeFinance.com - explain Consumer Price Index (CPI)



Consumer Price Index (CPI)

The term 'Consumer Price Index (CPI)' as it applies to the area of energy can be defined as ' These prices are collected in 85 urban areas selected to represent all urban consumers about 80 percent of the total U.S. population. The service stations are selected initially and on a replacement basis, in such a way that they represent the purchasing habits of the CPI population. Service stations in the current sample include those providing all types of service (i.e., full, mini, and self service)'.

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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".


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