Consumer Price Index (CPI). The CPI is a measure of inflation. The CPI is a price index of a weighted basket of goods and services that the average household buys.
A measure of inflation is the Consumer Price Index (CPI). An annual price survey, the Expenditure and Food Survey, is undertaken by the ONS to collect data. The CPI is a price index of a basket of roughly 700 goods and services typically bought by the average household. The basket includes food, drink, shelter, clothing, energy, education and banking services. Goods are weighted more if households spend more money on them.
Each year the basket is updated to account for the changing patterns of consumer behaviour, some goods may be taken out and/or given less weight, current goods may be given more weight and/or new goods may be added.