How Do You Spell CONSUMER INDEX?

Pronunciation: [kənsˈuːməɹ ˈɪndɛks] (IPA)

The term "consumer index" refers to a statistical measure that tracks the changes in the prices of goods and services over time. The word "consumer" is pronounced as /kənˈsjuːmər/ with the stress on the syllable "su", and is spelled with the letters c-o-n-s-u-m-e-r. The word "index" is pronounced as /ˈɪndeks/ with the stress on the first syllable, and is spelled with the letters i-n-d-e-x. Together, the spelling of "consumer index" signifies the importance of tracking prices in order to understand economic trends and make informed decisions about consumer spending.

CONSUMER INDEX Meaning and Definition

1. A consumer index refers to a statistical measure that reflects changes in the prices of goods and services purchased by households over a specific period of time. Also known as a consumer price index (CPI), it serves as an essential economic indicator used by policymakers, economists, and analysts to monitor inflationary trends and assess the cost of living for the average consumer.

   The consumer index is typically derived by comparing the current prices of a basket of goods and services with their prices in a base year, which is typically designated as 100. This basket usually represents the consumption patterns and expenditure habits of households within a particular country or region. It includes essential items like food, clothing, housing, transportation, healthcare, education, and other goods and services that consumers typically purchase.

   By tracking changes in the consumer index over time, economists can gauge the rate of inflation or deflation, which gives insights into the purchasing power of consumers. An increase in the consumer index indicates a rise in the cost of living and a decrease in the value of money, while a decrease in the index suggests deflation or a decrease in prices. Policymakers and central banks often utilize this data to guide economic policies, adjust interest rates, and ensure stable economic growth.

   In conclusion, the consumer index is a vital tool for understanding the impact of price changes on consumer purchasing power, aiding economic analysis, and framing policies to maintain economic stability.

Common Misspellings for CONSUMER INDEX

• xonsumer index
• vonsumer index
• fonsumer index
• donsumer index
• cinsumer index
• cknsumer index
• clnsumer index
• cpnsumer index
• c0nsumer index
• c9nsumer index
• cobsumer index
• comsumer index
• cojsumer index
• cohsumer index
• conaumer index
• conzumer index
• conxumer index
• condumer index
• coneumer index
• conwumer index

Etymology of CONSUMER INDEX

The etymology of the word "consumer index" can be broken down as follows:

1. Consumer: The word "consumer" comes from the Latin word "consumere" which means "to sum up", "use up", or "waste". It is derived from the prefix "com-" meaning "together" and the word "sumere" meaning "to take".

2. Index: The word "index" comes from the Latin word "indic-" which means "point out" or "indicate". It is derived from the word "indicare" which means "to show" or "to point out".

When combined, the term "consumer index" refers to a statistical measure or indicator that reflects the changes in the purchasing power of consumers and is used to track the overall price level of goods and services in an economy.

Plural form of CONSUMER INDEX is CONSUMER INDEXES