Glossary of economics research
Results of search for cost-of-living index follow:
cost-of-living index:
A cost-of-living price index measures the changing cost of a constant standard
of living. The index is a scalar measure for each time period. Usually it is
a positive number which rises over time to indicate that there was inflation.
Two incomes can be compared across time by seeing whether the incomes changed
as much as the index did.
Contexts: macro; prices
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