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Meaning of “average earnings index” in the English Dictionary

"average earnings index" in Business English

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average earnings indexnoun [C]

uk   us   (plural average earnings indices, average earnings indexes) ( abbreviation AEI) ECONOMICS
in the UK, a ​series of ​numbers that compares the ​averageamount of ​moneyearned by a ​worker during the ​year with the ​amountearned in the previous ​year: The ​averageearningsindex is expected to show that ​wagesrose at a 4.4% ​annualpace in August.
(Definition of average earnings index from the Cambridge Business English Dictionary © Cambridge University Press)
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