* * *
cost of living index UK US noun [C, usually singular]
► ECONOMICS a list of the prices of basic goods and services, showing how they change in a particular period of time, as a way of measuring inflation: »
The newspaper's own unofficial cost of living index shows that prices are rising much faster than has been officially stated.
→ See also CONSUMER PRICE INDEX(Cf. ↑consumer price index), RETAIL PRICE INDEX(Cf. ↑retail price index)
Financial and business terms. 2012.