It measures the change in the cost of a basket of retail goods and services.

This means that a basket of goods and services costing $10.00 in the 1982-1984 base period now costs $11.65.

It is necessary to compare the cost of baskets of goods and services using a price index.

The basket of goods and services chosen reflects changes in society's buying habits.

Offers data on changes in the prices paid by urban consumers for a representative basket of goods and services.

Consumer prices, based on a fixed basket of goods and services, rose 4.4 percent last year.

The overall index stood at 144.2, meaning a basket of goods and services that cost $10 in the 1982-1984 base period now costs $14.42.

The simplest way to measure prices is to compute the changes for a fixed basket of goods and services.

This means that a basket of goods and services that cost $10 in the base period now costs $11.75.

Costs of baskets of services and goods include jobs, leaving more money in people's pockets.