Meaning of the word cpi in English

What does cpi mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

cpi

US /ˌsiː.piˈaɪ/
UK /ˌsiː.piˈaɪ/

Abbreviation

Consumer Price Index: an index of the cost of all goods and services to a typical consumer

Example:
The latest CPI figures show a slight increase in inflation.
Economists closely monitor the CPI to gauge economic health.