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Cost of Living
(redirected from costs of living)

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.01 sec.
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.


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In reality, the UK has recently experienced some much sharper rises in costs of living that are putting many people under serious financial strain.
While prevailing wisdom offered hints that this perceived cost gap might not be that significant, there was no significant quantitative evidence regarding these comparative costs of living.
The Economist Intelligence Unit (EIU), a think tank affiliated with the Economist magazine, said Tokyo and the Osaka-Kobe region rank as the most expensive cities in the world, with the costs of living 40% higher than in New York, the base city in the survey.
 
 
 
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