Changes in the CPI reflect price changes in the economy. When there is an upward change in the CPI, this means there has been an increase in the average change in prices over time. This eventually leads to adjustments in the cost of living and income (presumably so that income is adjusted to meet a higher cost of living). This process is referred to as indexation.
Moderate inflation is associated with economic growth, while high inflation can signal an overheated economy. If economic growth accelerates very rapidly, demand grows even faster and producers raise prices continually.
In short, High CPI is not that good for Economy. It will better to have a moderate CPI for growth of economy.