The consumer price index is a weighted average collection ... As of October 2021, the CPI was 276.589, meaning goods and services had gone up in price by an average of about 176.589% since 1984.

Consumer inflation increased 2.9% in 2024, which is above the Federal Reserve's goal of 2%, but wages overall more than kept up with higher prices.

The Consumer Price Index (CPI) is used as a chief barometer of inflation. But what is it and how is it calculated? CNBC Select explains below and recommends some cards that could help put money ...