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English definition of “average earnings index”

average earnings index

noun [C]     (plural average earnings indices, average earnings indexes) ( abbreviation AEI) ECONOMICS
in the UK, a series of numbers that compares the average amount of money earned by a worker during the year with the amount earned in the previous year: The average earnings index is expected to show that wages rose at a 4.4% annual pace in August.
(Definition of average earnings index noun from the Cambridge Business English Dictionary © Cambridge University Press)
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