{"id":13886,"date":"2022-12-16T17:07:30","date_gmt":"2022-12-16T14:07:30","guid":{"rendered":"https:\/\/roboforex.com\/blog\/?p=13886"},"modified":"2023-10-17T16:19:24","modified_gmt":"2023-10-17T13:19:24","slug":"what-is-the-cost-of-living-index","status":"publish","type":"post","link":"https:\/\/roboforex.com\/blog\/2022\/12\/16\/what-is-the-cost-of-living-index\/","title":{"rendered":"What is the Cost-of-Living Index?"},"content":{"rendered":"\n

In this article, we will look at the Cost-of-living index (COLI), and find out what it is useful for. We will look at what items of expenditure it takes into account, how it is calculated, and how it differs from the Consumer price index (CPI<\/a>).<\/p>\n\n\n\n

<\/span><\/a>What is the cost-of-living index?<\/span><\/h2>\n\n\n\n

The Cost-of-living index (COLI) is a price index that captures changes in the relative cost of living over time and across regions. It characterises changes in the prices of consumer goods and services in relation to a fixed set of goods and services that make up the basket of goods and services for certain categories of the population.<\/p>\n\n\n\n

COLI is an estimate of how much money a person needs to live in a certain place. It is therefore a widely used indicator to compare living standards in different regions.<\/p>\n\n\n\n

The index is not an official government statistic but is calculated by various private companies around the world. This indicator can help a person determine whether the income or wages they receive are sufficient to cover basic expenses where they want to live and work.<\/p>\n\n\n\n

<\/span><\/a>What the cost-of-living index is made up of<\/span><\/h2>\n\n\n\n

Expenditure items that are accounted for by COLI:<\/p>\n\n\n\n