Cost-of-living Index (Noun)
Meaning
An index of the cost of all goods and services to a typical consumer.
Classification
Nouns denoting communicative processes and contents.
Examples
- The city's cost-of-living index was higher than any other city in the country, making it a challenging place to live for people on a fixed income.
- Economists use the cost-of-living index to measure inflation and compare the purchasing power of different currencies.
- After moving to the new city, Sarah was shocked by the high cost-of-living index, which was much higher than what she was used to in her hometown.
- The government adjusts the salaries of its employees abroad based on the cost-of-living index of the host country to ensure they maintain a similar standard of living.
- A low cost-of-living index was one of the reasons why the small town was attractive to retirees, who could stretch their pension further and enjoy a more comfortable lifestyle.