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The Edmond Economic Development Authority announced today its annual cost of living is 10 percent lower than the national average, according to the American Chamber Of Commerce Researchers Association\'s Cost of Living Index by C2ER, the council for community and economic research.
Containing results from the 2007 Average Annual Data report, the study measures relative price levels for consumer goods and services. The average equals 100 and each city's index is a percentage of participating cities. Edmond's index is 90.
The 2007 third-quarter percentage is 1.9 percent lower than the same 2006 period. The 2007 third-quarter index is 88.5.
"By participating in the ACCRA Cost of Living Index, we can offer customized cost of living comparison data to assist companies in their decisions to locate here. This data has proved to be a valuable tool in our business recruitment efforts," Janet Yowell, executive director of the Edmond Economic Development Authority, in a statement.
The study measures relative price levels for consumer goods and services in participating areas. The average index would measure 100 for all participating areas.
Consumer spending categories include grocery items, housing, utilities, transportation, healthcare and miscellaneous goods and services.
Specifically, the areas in which Edmond ranked below the national average were grocery items, 88.6; housing, 80.3; utilities, 90; health care, 96.1 and miscellaneous goods, 95.2.