Yes, i.e. 'inflation', but there are different ways of measuring that. In the UK at least the main ways are CPI & RPI - Consumer & Retail.

Broadly speaking RPI is CPI + mortgages & rent prices, but actually there's a newer one that's exactly that which tracks lower. They're different 'baskets of goods', used in differnt cases, but generally CPI is what's meant. (RPI is used for student loan repayments for example.)