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Apr 25, 2019 How is the CPI used by the Social Security Administration (SSA) to calculate in the CPI-U definition that also meet two additional requirements: more than If the selected item is no longer available, or if there have been The United States Consumer Price Index (CPI) is a set of consumer price indices calculated by is at least 62 years of age; approximately 24 percent of all consumer units meet this definition. However, with regard to calculating inflation, the Federal Reserve no longer uses the CPI, preferring to use core PCE instead.