April to May CPI report higher than expected.

The Consumer Price Index or CPI is one of the most common measures of inflation. Governments and institutions use it for cost-of-living adjustments, and investors use it to evaluate positions in the market. So what do changes in CPI mean to the average consumer? First, no one individually experiences the average. Your inflation experience is unique to you. Second, the index's slow-to-change basket of goods and services only gives us part of the picture.

This week you will learn about: what the index does and doesn't track and so-called flaws in reporting. We'll go beyond headlines like, "Prices Jumped 5% in May From Year Earlier, Faster Than Expected," to understand what it might mean for you.

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