cost of living

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Related to Cost of living index: consumer price index, Cost Of Living Adjustment

Cost of Living

The amount one must pay to maintain one's standard of living. That is, the cost of living measures how much one must spend to finance one's lifestyle. Cost of living varies by area; it may be lower in a small city, for example, than in a large city. Changes to the cost of living are related to, but are distinct from, underlying inflation. For example, gasoline prices may rise faster than inflation, which may increase the cost of living more than inflation itself does.

cost of living

the general level of prices of goods and services measured in terms of a PRICE INDEX. To protect people's living standards from being eroded by price increases (INFLATION), wage contracts and old-age pensions, etc., sometimes contain cost-of-living adjustment provisions that automatically operate to increase wages, pensions, etc., in proportion to price increases. See INDEXATION.
References in periodicals archive ?
The new measure is designed to be a closer approximation to a cost of living index than the existing BLS measure (see Cage, Greenlees and Jackman (2003)).
A major conclusion of this research has been that there has been divergence in the economy or that the economy as a whole has become less integrated since 1999 when Pasha and Pasha (2002) computed a similar cost of living index for major cities in Pakistan (2) as standard deviation for the overall index, food and beverage index, apparel and footwear, and rent has increased.
3% NATIONAL DEBT PER HEAD : pounds 11,726 COST OF LIVING INDEX : 5.
The ACCRA Cost of Living Index measures prices of goods and services among participating urban and suburban areas.
NNA - 10/3/2011 - General Labor Confederation called on Thursday the High Cost of Living Index Committee to raise the minimum wage in line with prices towering.
ISTANBUL, Sep 1, 2010 (TUR) -- Cost of living index for wage earners in Istanbul, a major indicator for retail price movements, was up 0.
Our Cost of Living index compiled with trade bible The Grocer shows a basket of 25 staples has leapt in price by 3% year on year.
However, month-to-month, the cost of living index increased 0.
Dubai is ranked at number 20 in the global Cost of Living index compiled on an annual basis by international human resources consultancy Mercer - having moved up from place 52 in the 2007 list.
Charlotte is ranked number seven on the ACCRA's Cost of Living Index for 2008, which compares Charlotte to other cities in the United States.
The cost of living index will not fall to 8pc or 9pc, it is expected to end the year at about 10.
Although demand for oil and gas is growing, which raises prices for these commodities, I think wage levels have a far greater impact on the cost of living index.