parity

/ˈpær·ɪ·t̬i/ n [U]

Definition

› equality, esp. of pay or position: Washington, DC, hopes to achieve political parity with the states. › US history Parity is also the ability of farmers to buy things at the same level as during a past time set as a standard and maintained by government price support.

(Definition of parity n from the Cambridge Academic Content Dictionary © Cambridge University Press)