Cost of Living Index

Cost of Living Index A price index measuring the general level of prices of goods and services. The index is often used to provide for wage adjustments to counteract the effects of inflation on wages, pension, etc. Compiled by the Labour Bureau of the Government of India and published every month the index, till January 1989, had 1960 as the base year. Since then the base is taken as 1982. Apart from being a general economic indicator, the cost of living index features prominently in all wage disputes and settlements and, as such, happens to be one of the most important factors in determining industrial peace.

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