Consumer price index (2010 = 100)

This economic indicator provides a vital measure of inflation by assessing the average change over time in the prices paid by consumers for a consistent basket of goods and services, which may be periodically updated. Utilizing the Laspeyres methodology, it captures how shifts in consumer behavior and market dynamics influence purchasing power. The benchmark year of 2010 allows for comparative analysis across different time frames, enabling economists and policymakers to gauge economic stability and cost of living adjustments accurately. By averaging data over specific periods, it smooths out seasonal fluctuations, offering a clearer view of long-term trends, making it an essential tool for understanding consumer trends and informing fiscal policies. Source: