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Consumer Price Index (CPI) definitions

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Termini in questo insieme (15)

  • Consumer Price Index
    A measure tracking changes in the cost of a fixed basket of goods over time to assess inflation.
  • Basket of Goods
    A set of products and services typically purchased by households, used to monitor price changes.
  • Base Year
    The reference period in CPI calculations, assigned a value of 100 for comparison with other years.
  • Inflation Rate
    The percentage change in the CPI from one year to the next, indicating how much prices have risen.
  • Household Survey
    A government process to determine typical consumer purchases for constructing the basket of goods.
  • Price Tracking
    The ongoing recording of costs for items in the basket to observe trends and calculate CPI.
  • Percentage Change Formula
    A calculation method using the difference between new and old values divided by the old value, often for inflation.
  • Numerator
    The current year's basket cost in the CPI formula, representing the value being compared.
  • Denominator
    The base year's basket cost in the CPI formula, serving as the reference value.
  • Housing
    The largest expenditure category in the real-world basket of goods for CPI calculations.
  • Food and Beverages
    A major component of the basket of goods, reflecting essential household spending tracked in CPI.
  • Transportation
    A significant category in the basket of goods, often comparable in size to food and beverages.
  • Medical
    A category in the basket of goods representing healthcare-related expenditures tracked for CPI.
  • Education
    A component of the basket of goods, capturing spending on learning and schooling in CPI calculations.
  • Recreation
    A basket category including leisure and entertainment expenses, factored into CPI measurement.