What factors does the Cost-of-Living index take into account?

Question

Quizplus · Accepted Answer

The Cost-of-Living index takes into account the costs of housing, food, and groceries. While housing is a major factor, it is not the only one. Food and groceries are also essential components of daily living expenses that must be factored into any cost-of-living calculation. While education and travel may also be significant expenses, they are not included in the cost-of-living index. Similarly, cell phone costs may be important for some individuals, but they are not typically included in cost-of-living calculations.

What Factors Does the Cost-Of-Living Index Take into Account