Consumer price index (CPI) is same as cost of living index. We use the aggregate expenditure method which gives CPI as CPI = ∑p1q0/∑p0q0 x 100
Consumer price index for the year 2016 is = 174/146.50 x 100
= 118.77
On the basis of the year 2015, The cost of living has increased by 18.77%