Question

"the cost of living index number is essentially a consumer's price index " justify.​

Answer 1

Answer:

cost-of-living index is a theoretical price index that measures relative cost of living over time or regions. It is an index that measures differences in the price of goods and services, and allows for substitutions with other items as prices vary

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Answer 2

Answer:

Good question mate.

"The cost of living index number is essentially a consumer number index" because it represents the change over time in prices paid by the consumer for the specific goods and services.

It tells about how much goods a family buy and total amount they spend for living.

Hope it helps.