They agreed to a cost-of-living escalator.
Origin of escalator
- Originally a trademark
From American Heritage Dictionary of the English Language, 5th Edition
- From Escalator created by American inventor Charles Seeberger in 1900, from Latin e (“from", "out of”) + scala (“ladder”) + -or, which forms nouns of agency. Formerly a trademark. See: the appendix. Broader usage may be influenced by escalate. For an alternative etymology, see Online Etymology Dictionary.