The consumer price index suffered its first contraction in 16 years last year, largely due to lower food and clothing prices. |
The price of the television licence is linked to the consumer price index which means that any increase has implications for inflation. |
In the present U.S. system, benefits after retirement are indexed to the consumer price index. |
But the principal value is adjusted twice a year to reflect inflation, as measured by increases in the consumer price index. |
Salary increases for the same period last year averaged 8 per cent against the consumer price index of 5.6 per cent. |
By contrast, salary increases for the same period in 2001 increased by 2.4 per cent against the consumer price index. |