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According to the Bureau of Labor Statistics, ‘The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.’
These CPI graphs reflect the spending habits of all urban consumers and urban wage earners. These consumers represent 87.0% of the total United States population. The value of the basket of goods that this index measures consists of expenditure items in more than 200 categories.