Consumer price index increase language
The Consumer Price Index (CPI) measures the average change in the prices paid for a market basket of goods and services. These items are purchased for consumption by the two groups covered by the index: All Urban Consumers (CPI-U) and Urban Wage Earners and Clerical Workers, (CPI-W). For each CPI index series, BLS publishes a current (or “standard” reference base). For example, the standard reference base for the CPI-U all items index is 1982– 1984=100. Some index series, though, have different reference bases. For clarity, an escalation contract should specify the reference base to be used.