Which price index is also known as the cost-of-living index?

Question

Quizplus · Accepted Answer

The consumer price index (CPI) is also known as the cost-of-living index because it measures changes in the prices of goods and services that households typically purchase. It is a widely used price index for measuring inflation and is often used to adjust salaries, wages, and other payments based on changes in the cost of living. While the other indices listed may also be used to measure inflation or changes in prices, they are not typically referred to as cost-of-living indices.

Which Price Index Is Also Known as the Cost-Of-Living Index