Changes in the Consumer Price Index (CPI) are often a triggering event ... The Economic Policy Institute updated its Family Budget Calculator in January 2025 with data from 2024.

Understand the purpose of market escalation contracts and learn how the Consumer Price Index (CPI) is often used to make periodic contract price adjustments.

For example, if you hear that the inflation rate was a certain percentage, they're referring to the CPI. However, SSA uses a different inflation metric to calculate the Social Security COLA.