The Consumer Price Index calculator computes the index based on the Cost of Current Year, and the Cost of the Base Year.
INSTRUCTIONS: Choose units and enter the following:
Consumer Price Index (CPI): The calculator returns the value as a real number.
This formula is used to measure the average change of prices for consumer goods and services over time. This formula works for one item of for a list of items. The most common application is for a list of items referred to a basket. In the classic CPI calculation, the cost of a basket of items is computed on a regular basis where the items in the basket roughly match a list of goods consumed by members in the community (e.g. citizens of a country). The most common items are:
The list of items the U.S. CPI basket can be seen in the U.S. Bureau of Labor Statistics CPI report (https://www.bls.gov/news.release/pdf/cpi.pdf)