Legal Definitions - consumer price index

The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by consumers for a basket of goods and services. It is published monthly by the U.S. Bureau of Labor Statistics and is used to monitor changes in the rate of inflation.

Let's say the CPI for a particular month is 200. This means that, on average, prices for goods and services have increased by 2% compared to the base period. For example, if a gallon of milk cost $3 in the base period, it would now cost $3.06.

A consumer product is an item that is intended for personal, family, or household use and is sold in commerce. Examples of consumer products include clothing, electronics, and household appliances.

A smartphone is a consumer product because it is intended for personal use and is sold in commerce. It is not intended for use in a business or industrial setting.

Another example of a consumer product is a washing machine. It is intended for household use and is sold in commerce. It is not intended for use in a commercial laundry facility.

These examples illustrate that consumer products are items that are intended for personal use and are sold in commerce. They are not intended for use in a business or industrial setting.