Consumer Price Index (CPI)

Tax Glossary Definition

Consumer Price Index (CPI)

The Consumer Price Index (CPI) is an inflation indicator that measures the average change in prices of goods and services typically consumed by households over time. It helps in tracking the cost of living and is widely used for economic and wage adjustments.

Example: The CPI is used to calculate and revise the Dearness Allowance (DA) of employees to compensate for inflation.

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