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Consumer Price Index
A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, used to monitor inflation.
Consumer Price Index
A benchmark that evaluates the mean change through time in the outlay by urban consumers for a chosen collection of consumer items and services.
Standard of Living
The level of wealth, comfort, material goods, and necessities available to a person or community.
Inflation Rate
The progression speed at which the cost of general goods and services increases, diminishing buying power over time.
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