The Fact
No. The Consumer Price Index (CPI) is an index, not a dollar price. For most CPI series, the 1982–84 average was set equal to 100; later index values show price levels relative to that base.
What This Means
The CPI number becomes meaningful through comparison with another point in time. The percent change between index values is usually the useful part.
Sources
- U.S. Bureau of Labor Statistics, CPI Concepts. https://www.bls.gov/opub/hom/cpi/concepts.htm Accessed October 2, 2026.