noun
cost of living index
Economic indicator measuring changes in the price of goods and services necessary for daily life.
生計費指数は前年比で2%上昇した。
The cost of living index rose 2% compared to the previous year.
消費者物価指数 (Consumer Price Index) is a more common and specific measure of price changes for consumer goods, while 生計費指数 is a broader term for cost of living.
Compound of 生計 (livelihood) + 費 (expenses) + 指数 (index).