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Under the concept of product liability, an aircraft manufacturer might be sued if a passenger suffered injury when the aircraft's inflatable ramp did not open properly.
Price Index
A measure that examines the weighted average of prices of a basket of consumer goods and services over time.
Inflation Rate
The percentage rate at which the general level of prices for goods and services is rising annually.
CPI
Tracking the average evolution in pricing for a collection of goods and services purchased by people in urban areas, the Consumer Price Index serves as an indicator of these changes over time.
Consumer Price Index
The Consumer Price Index measures the average change over time in the prices paid by consumers for a basket of goods and services.
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