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English definition of “purchasing power”

purchasing power

noun [U]    
A person's purchasing power is their ability to buy goods : The purchasing power of people living on investment income has fallen as interest rates have gone down.Wealthiness and wealthyBuying the value of money considered as the amount of goods it will buy : The purchasing power of the average hourly wage has risen in the last five years .Costs and expenses
(Definition of purchasing power noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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