| The price of the television licence is linked to the consumer price index which means that any increase has implications for inflation. |
| Right now, benefits are set by a complex formula when a person first retires, and then are adjusted for inflation using 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. |
| A better bet is to predict the price deflator using the consumer price index for non-durable goods. |
| But the Fed also reacts to recent inflation as gauged by the consumer price index. |
| The consumer price index suffered its first contraction in 16 years last year, largely due to lower food and clothing prices. |
