Consumer Price Index (CPI)

Returns the Consumer Price Index for All Urban Consumers (CPI-U), the most widely used measure of inflation in the United States.

Data Source

Bureau of Labor Statistics (BLS) - Consumer Price Index.

Usage Notes

  • No parameters required
  • Returns index value (1982-84 base = 100)
  • Data updated monthly
  • Headline CPI includes all items (food, energy, etc.)

CPI Interpretation

Year-over-Year Change Interpretation
< 2% Below Fed target
2-3% Near Fed target
3-5% Elevated inflation
> 5% High inflation

Key Categories

CPI measures price changes in:

  • Housing (shelter)
  • Transportation
  • Food
  • Medical care
  • Recreation
  • Apparel

Examples

=ConsumerPriceindex()
Current CPI index value

When to Use

  • Tracking consumer inflation
  • Adjusting values for inflation
  • Economic forecasting
  • Building inflation dashboards

When NOT to Use

Scenario Use Instead
Need core inflation (ex food/energy) ConsumerPriceindexWithoutFoodEnergy()
Need energy prices ConsumerPriceindexEnergy()
Need food prices ConsumerPriceindexFood()
Need wholesale/producer prices ProducerPriceIndexFinalDemand()

Common Issues & FAQ

Q: How do I calculate inflation rate from CPI? A: Inflation rate = (Current CPI - Prior Year CPI) / Prior Year CPI * 100

Q: What is the base period? A: CPI uses 1982-1984 as the base period (index = 100).

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