ocr: U.S. Inflation Since 1972 The Consumer Price Index (CPI) is the most commonly used method to measure the nation's inflation rate. It measures prices of a fixed list of items bought by a typical consumer. The index sets 1982-84 as the baseline years. The chart shows items costing $1 at that time (CPI=100) sold in 1977 for an average of about 60 cents and in 1997 for $1.61. The CPI is widely used as a cost-of-living benchmark to adjust Social Security payments, union contracts and tax brackets. 200 CPI'97: 160.5 150 CPI 100 (all urban consumers) 50 73/75/77179 '81'83 185 '87 '891 "91/"93 '95 197 ...
