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cost-of-living index |
Also found in: Dictionary/thesaurus, Legal, Acronyms, Encyclopedia, Wikipedia, Hutchinson | 0.09 sec. |
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cost-of-living index An indicator of the current price level for goods and services as compared to a base year.The base year is always set at a value of 1.0 or 100.As the cost of living increases (inflation), the number will increase, so that a cost of living index of 150 means things cost 50 percent more than they did in the base year. As the cost of living decreases (recession or depression) the number will decrease,so that a cost of living index of 93 means things cost only 93 percent of what they cost in the base year.The consumer price index is one such cost of living index. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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