The current value of the Consumer Price Index (CPI) for the United States is 315.49.
The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them. Changes in the CPI are used to assess price changes associated with the cost of living; the CPI is one of the most frequently used statistics for identifying periods of inflation or deflation.
Here's a breakdown of recent CPI values:
| Metric | Value |
|---|---|
| Actual CPI | 315.49 |
| Previous CPI | 315.66 |
| Lowest Recorded CPI | 23.50 |
These values represent an index number, not a monetary cost. The base period for the CPI is set to 100, meaning prices in the base period are normalized to that value. Thus, a CPI of 315.49 indicates that the cost of the basket of goods and services is 3.1549 times higher than it was in the base period. The difference between the actual and previous CPI values helps economists and policymakers understand short-term price movements and inflationary pressures.
For more detailed information and historical data on the United States Consumer Price Index, you can refer to economic data sources like Trading Economics.
