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An escalator clause in a contract is a provision that adjusts wages, pension benefits, insurance or loan repayments over time based on a change in overall living costs or changes in price levels such as the consumer price index (CPI).
An '''escalator clause''' in a contract is a provision that adjusts wages, pension benefits, insurance or loan repayments over time based on a change in overall living costs or changes in price levels such as the consumer price index (CPI).