cost of living


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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 problem is that Bahrain always tries to stay low on the cost of living, so that there isn't a sort of inflation,'[euro]oCi he said.
Referring specifically to the analysis in the 2013/2014 Cost of Living UAE Report, she said: "We invest thousands of man-hours across our research team to construct our Cost of Living Reports, enabling our clients to focus on their core business.
To order this report: Accounting_and_Corporate_Finance Industry : Worldwide Cost of Living 2013 __________________________ Contact Clare: clare@reportlinker.
The survey of over 2,000 adults found their biggest concern was a "broken society", as well as the cost of living, crime and violence.
Tell a 75-year-old widow - a woman scrimping by on $14,000 of Social Security benefits and a small savings account earning only 1 percent interest who is facing an increase in the cost of her medications - that the cost of living has not gone up.
In general, we found that while data suggest that the cost of living is higher in some areas than in others, the current aid formula accounts for these differences in only a limited way.
Beirut is becoming more and more expensive, now ranking the 41st most expensive city in the world, according to the 2009 Cost of Living survey by Mercer Consulting covering 143 cities worldwide, the leftist daily AS SAFIR reported Tuesday.
Dubai: News that Dubai is now in the top 20 list of the latest Cost of Living Survey and the most expensive city in the Gulf, may or may not come as a surprise to most expatriates.
There are very few empirical studies on Taiwan consumers' cost of living; however, the issue is becoming increasingly important in Taiwan because many economic and social welfare policies already include escalator clauses related to cost of living in order to take the impact of inflation on consumers' real purchasing power into consideration.
In this paper we have constructed a relative cost of living index for 32 cities/towns of Pakistan using latest available prices to understand the extent of current differences in cost of living across cities and also to compare changes in relative cost of living since 1999 [Pasha and Pasha (2002)].
France was said to have the highest cost of living.
Brighton was yesterday named the best city in the UK to be a young man because of its buzzing nightlife, low cost of living and high ratio of women to men.