Definition of market basket in English:

market basket


  • 1A large basket, typically one with a lid, used to carry provisions.

    • ‘I clutched the market basket in my hands, full of flour and apples and other foods.’
    1. 1.1Economics A selected list of food and household items chosen as a representative sample of common purchases and used to measure the cost of living.
      ‘East Europeans hardly have access to the same market basket of goods’
      • ‘You can only use the ingredients listed in the market basket.’
      • ‘A market basket of foodstuffs costs 1.3 times more in the Far East than in an average Russian region, but the per capita income is 4.2 percent lower.’
      • ‘The teachers are demanding a 400 percent raise that would bring their salaries up to the cost of the basic family market basket for Venezuela, estimated at US $925 a month.’
      • ‘The 3.5 year bond will pay out 55 per cent on any growth of the stock market basket plus 100 per cent of the initial capital deposited back at the end of the term.’
      • ‘The debate has already begun about just what goes into the market basket and there are suggestions that the recent market basket was just too full of non-essential goodies.’