The Cost of Laughing Index (CLI) is developed using the same approach as is used to develop the Consumer Price Index. While standard scores and percentiles allow us to compare different values, they...

The Cost of Laughing Index (CLI) is developed using the same approach as is used to develop the Consumer Price Index. While standard scores and percentiles allow us to compare different values, they do not take into account time. Index numbers such as the CLI allow you to compare the current value to a value at some base time period. Describe the CLI methodology and what it is this year in the United States.