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ACCRA Cost of Living Index First Quarter, 2003 Select U.S. Metropolitan Areas
The Cost of Living Index compiles costs of consumer products on a quarterly basis for approximately 300 cities and metropolitan areas in the United States. The average cost of living of all the cities participating in the survey is always scaled to equal 100. The purpose of the index is to compare living costs in a particular location to this average. The index cannot, however, be used to compare changes in costs over time, as the cities participating in the survey change each quarter.
Think of the index in terms of percentages. The average cost of living of all cities participating in the survey is 100 percent of itself. The cost of living in Olympia is 2.3 percent higher than this average. Consumer costs in Manhattan are 119 percent higher than the average, with housing 308 percent higher!
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