what is the formula for cost of living index number
Answers
A consumer price index is a price index, the price of a weighted average market basket of consumer goods and services purchased by households. Changes in measured CPI track changes in prices over time.
Formula
CPI_t=\frac{C_t}{C_0} * 100
CPI_t = consumer price index in current period
C_t = cost of market basket in current period
C_0 = cost of market basket in base period
A 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.
Answer:
A cost of living index is a theoretical prise index that measures relative cost of living over time or religions. it is an index that measures difference in the prise of goods and services , and allows for substitutions with other items as prices vary.