The phrase “Consumer Price Index” can be intimidating and unclear to Americans.  It’s an economic term, after all, and not a part of everyday American language. It even has its own abbreviation to add to the confusion — CPI. So, when a layperson hears that “CPI is rising”, it’s not always clear what it means. The tendency, therefore, is to ignore the news. This is one reason CPI is commonly substituted with the more down-home expression of ”Cost of Living”. In contrast to the term “CPI”, the phrase “Cost of Living” is a lot more clear.  When people hear that the Cost of...