edcom-728x90

IXL Ad

This is part of a collection of definitions on Financial Literacy. This defines the term CPOI.
Register to SaveSubscribe to DownloadPreview Add to Slideshow
(Subscribers Only)

If you are a subscriber, please log in.

Algebra >> Expressions, Equations, and Inequalities >> Numerical and Algebraic Expressions

Definition--Financial Literacy--CPI

CPI

CPI

Topic

Financial Literacy

Definition

The Consumer Price Index (CPI) measures the average change in prices paid by consumers for goods and services over time.

Description

The Consumer Price Index (CPI) is a critical economic indicator that tracks changes in the price level of a market basket of consumer goods and services. It is used to measure inflation and assess the cost of living. Understanding CPI is essential for economic analysis, wage adjustments, and financial planning. In real-world applications, CPI affects interest rates, pensions, and government policy. In math education, CPI introduces students to statistical analysis and economic concepts. A teacher might say, "CPI helps us understand how prices change over time, affecting what we can buy with our money."

CPI
The price of groceries is often the first indicator 
of increased prices in the economy.

For a complete collection of terms related to Financial Literacy click on this link: Financial Literacy Collection.

Common Core Standards CCSS.MATH.CONTENT.HSA.CED.A.1
Grade Range 8 - 10
Curriculum Nodes Algebra
    • Expressions, Equations, and Inequalities
        • Numerical and Algebraic Expressions
Copyright Year 2023
Keywords financial literacy, Consumer Price Index, CPI