Consumer Price Index (CPI) Consumer Price Index (CPI) measures the prices at the consumer level for a fixed basket of goods and services. Since it is an index number, it compares the level of prices to some base period. By comparing the level of the index at two different points in time, one can make a statement about how much prices have risen in the interim. Fixed-income: CPI Ý - Bond Market ß Fixed-income: CPI ß - Bond Market Ý Equity: CPI Ý - Stock Market ß Equity: CPI ß - Stock Market Ý Currencies - Uncertain