The Consumer Price Index (CPI) is an index that measures the price level of a certain basket of goods and services purchased by residents of a country. China's consumer price index is released by the National Bureau of Statistics, and is usually calculated and released in two ways: "year-on-year" and "month-on-month".

The consumer price index is an important indicator to measure the level of inflation. Normally, when the CPI rises, it means that the purchasing power of residents decreases, because the same goods and services need to pay more money. Therefore, the central bank usually uses CPI as a reference indicator for monetary policy. If the CPI grows too fast, the central bank may take measures such as raising interest rates to curb inflation; on the contrary, if the CPI grows too slowly, the central bank may take measures such as cutting interest rates to stimulate economic growth.

In China, the CPI includes consumer goods and services such as restaurants, housing, transportation, communications, health care, education, and entertainment. Among them, changes in food and energy prices usually have a greater impact on CPI. In recent years, the trend of China's sustained economic growth and consumption upgrades has also driven up the CPI, especially in areas such as food, housing and healthcare.

However, it should be noted that CPI does not necessarily fully reflect personal consumption. Different consumers may have different purchasing habits and consumption needs, which may lead to price changes in personal consumption not completely consistent with the CPI. In addition, the CPI does not necessarily reflect the price changes of all goods and services. For example, some emerging consumer goods and services may not be included in the CPI.

Generally speaking, the consumer price index is an important indicator to measure the level of inflation, and it is also one of the reference indicators for the central bank to formulate monetary policy. In China, CPI is of great significance to residents' consumption, economic growth and social stability.