Definition: Basket

Consumer Price Index

A specified set of quantities of goods and services. In a CPI context, the set may comprise the actual quantities of consumption goods or services acquired or used by households in some period, or may be made up of hypothetical quantities.

Source:
International Labour Organization (ILO), International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), Statistical Office of the European Communities (Eurostat), United Nations (UNECE), The World Bank, Consumer Price Index Manual: Theory and Practice, Geneva, August 2004

Created:
2008-05-21

Updated:
2019-05-10