👉 The Consumer Price Index (CPI) is a measure of the average change in prices for 100 units of consumer goods and services over time. It's calculated by comparing the price level of those goods and services to the same period in previous years, adjusting for inflation. In other words, it's used as a benchmark for measuring how much consumers' purchasing power has changed over time. The higher the CPI, the greater the inflationary pressure on prices, indicating that consumer spending is increasing