Consumer Price Index
/ˈkɒn.sjuː.mər praɪs ˈɪn.dɛks/
Definitions
- (n.) An economic indicator measuring the average change over time in the prices paid by consumers for a market basket of consumer goods and services, used in law for adjusting contracts or benefits for inflation.
The contract included a clause to adjust payments based on the Consumer Price Index.
Forms
- consumer price index
Related terms
See also
Commentary
The Consumer Price Index is often referenced in legal documents to tie monetary values to inflation rates, ensuring contractual fairness over time.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.