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 ?
Each report documents living costs for seven cost categories and eight household structures, for the state and individual counties.
"With inflation creeping down towards target, students and parents alike will be hoping that this eventually filters down to their living costs.
The Australian Department of Immigration and Citizenship (DIAC) announced that the required living cost amounts since 1 July 2012 have been the following: AUD 18,610 per year for the main student; AUD 6,515 per year for the student's partner; AUD 3,720 per year for the student's first child; and AUD 2,790 per year for every other child.
"It was determined that the key barrier for students going to university was daily living costs and therefore the new package was designed to specifically help encourage more students from all backgrounds in Wales to go to university and yet the Welsh Government has done the opposite and cut the total maintenance package available to students fromthe poorest families.
I've supported my two oldest grandchildren through university with a regular weekly PS100 cash each to assist with their everyday living costs. And I've gifted them a lump sum to help reduce their student debt as they finished studying.
'The new index will track the general change in consumer prices, and help the government design a more precise policy in addressing living costs,' he said, adding monopolistic behaviour by businesses will also be curbed to drive down living costs.
Using available information on rents and living costs, Which?
All students from Wales starting a university course in September 2018 will receive support for living costs equivalent to the National Living Wage, made up of a mixture of means-tested grants and loans.
Congested and crowded places, and high rents for homes have forced many families I know to leave Riyadh." He said that small towns have no traffic jams, a more natural environment and low living costs. The government should further encourage this trend by building large hospitals and malls, and holding festivals and exhibitions, he said.
BRUSSELS, Jan 25 (KUNA) -- The Dutch government has claimed more than 700,000 euro from asylum seekers in the last four years as contributions towards their living costs. Dutch media reports said Monday that the cash was collected by the refugee settlement agency COA under a rule that has been in force since 2008.
Summary: Latest ranking looks at which cities expats are happiest with, especially in terms of living costs, jobs
But although he can take out loans to pay for the PS27,000 tuition fees for his three-year politics, philosophy and economics course, he will need up to PS800 a month for living costs.