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Is the Cost of Living Index the same thing as inflation?

April 26, 2017COST index inflation Living thing

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Is the Cost of Living Index the same thing as inflation?

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No. Inflation measures price change over time within a single geographic area, but provides no gauge of how prices compare among areas. The ACCRA Cost of Living Index measures differences in prices among areas at a single point in time, but provides no information about how rapidly prices are changing within any area.