How Do I Calculate Average Living Expenses?

The cost-of-living price index is a relative indicator that reflects the comprehensive trend and degree of the price of consumer goods and service items purchased by urban and rural residents. It includes two parts, consumer goods and service items, which are compiled for employees and farmers respectively. (1) Staff living cost price index: compiled by the representative city on the basis of the urban consumer goods retail price index and service expenditure price index compiled by the weighted arithmetic average method. The classification of the index and the selected representative commodities (items), the consumer goods part is the same as the urban consumer goods retail price index, and the service item part is the same as the urban service expenditure price index. The weights of major, medium, small categories and representative commodities (projects) are determined based on urban household survey data; the weights of the two parts of consumer goods and service items are based on the retail sales of consumer goods (including fresh vegetables) in the city and the service industry. Confirmation of turnover information. The cost-of-living cost index for employees is calculated using the average state-owned commercial average price and the society-wide average average price, respectively. ^[1]