Home > Term: cost-of-living index
cost-of-living index
A cost-of-living index measures differences in the price of goods and services, and allows for substitutions to other items as prices change. A consumer price index measures a price change for a constant market basket of goods and services from one period to the next within the same city (or in the Nation). The CPIs are not true cost-of-living indexes and should not be used for place-to-place comparisons.
- Part of Speech: noun
- Industry/Domain: Labor
- Category: Labor statistics
- Company: U.S. DOL
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Creator
- Levi Taylor
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