cost-of-living index: meaning, definition, pronunciation and examples
B2Formal, Technical, Academic, Journalistic
Quick answer
What does “cost-of-living index” mean?
A statistical measure that tracks changes over time in the prices of goods and services typically purchased by households.
Audio
Pronunciation
Definition
Meaning and Definition
A statistical measure that tracks changes over time in the prices of goods and services typically purchased by households.
A comparative indicator used to assess the relative expense of maintaining a standard of living, often used to adjust salaries, pensions, or benefits.
Dialectal Variation
British vs American Usage
Differences
No significant lexical differences; usage is identical in both varieties.
Connotations
Connotes economic analysis, inflation, and social policy. Neutral connotation.
Frequency
Similar frequency in both varieties, common in economic reporting and policy discussions.
Grammar
How to Use “cost-of-living index” in a Sentence
The [COUNTRY] cost-of-living index rose by X%.Salaries are pegged to the cost-of-living index.According to the latest cost-of-living index...Vocabulary
Collocations
Examples
Examples of “cost-of-living index” in a Sentence
adjective
British English
- cost-of-living-index data
- a cost-of-living-index adjustment
American English
- cost-of-living-index figures
- a cost-of-living-index increase
Usage
Meaning in Context
Business
Used for salary benchmarking and contract escalation clauses.
Academic
Analyzed in economics papers on inflation measurement and welfare.
Everyday
Discussed in news reports about inflation and its impact on households.
Technical
Precisely defined and calculated by national statistical offices.
Vocabulary
Synonyms of “cost-of-living index”
Strong
Neutral
Weak
Vocabulary
Antonyms of “cost-of-living index”
Watch out
Common Mistakes When Using “cost-of-living index”
- Using 'cost-of-life index' (incorrect).
- Confusing it with 'Consumer Price Index' without noting methodological differences.
- Using plural 'indexes' in formal British contexts (prefer 'indices').
FAQ
Frequently Asked Questions
No, it is a specific measure used to calculate the inflation rate for consumer goods and services.
It is typically calculated and published by a country's national statistical office, such as the ONS in the UK or the BLS in the US.
It is usually published monthly, with more detailed analyses released quarterly or annually.
Yes, many countries publish regional indices because living costs, especially housing, can differ dramatically between areas.
A statistical measure that tracks changes over time in the prices of goods and services typically purchased by households.
Cost-of-living index is usually formal, technical, academic, journalistic in register.
Cost-of-living index: in British English it is pronounced /ˈkɒst əv ˈlɪvɪŋ ˈɪndɛks/, and in American English it is pronounced /ˈkɔːst əv ˈlɪvɪŋ ˈɪndeks/. Tap the audio buttons above to hear it.
Phrases
Idioms & Phrases
- “Tied to the cost-of-living index”
Learning
Memory Aids
Mnemonic
Imagine an INDEX finger pointing at the COST of your weekly shopping list to see if you can still afford to LIVE.
Conceptual Metaphor
ECONOMIC PRESSURE IS A MEASURABLE FORCE (e.g., 'The index shows the squeeze on households').
Practice
Quiz
What is the primary purpose of a cost-of-living index?