A consumer price index (CPI)
measures changes in the price level of consumer
goods and services purchased by households.
The annual percentage change in a CPI is used
as a measure of inflation. A CPI can be used to
index (i.e., adjust for the effect of inflation) the
real value of wages, salaries, pensions, for
regulating prices and for deflating monetary
magnitudes to show changes in real values.
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