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 ?
It has seven living cost categories and 13 household structures.
Although they have budgeted to help a bit with living costs from savings , Emily and Andrew will have to work while they are students to help fund their studies.
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.
Because a lending institution has limited information on your living costs, she says it's critically important you do your own pre-purchase computation to determine the realistic scope of your monthly nut.
The living costs in Seoul and Chinese cities have risen by a big span, pushing out Japanese cities.
According to the ONS, the typical worker now earns PS15 a week less than in mid-2008 in "real terms", since when living costs have jumped 23 per cent.
As far as living costs are concerned, however, data collated by Numbeo showed that it is more expensive to live in Dubai than in many other cities.
Robert said: "We need to find around PS200 a week for his living costs for seven months of the year - almost PS17,000 in total.
Households in Yorkshire and Humber and the North West had a shorter wait this month for Income Independence Day, paying off their living costs on 20 May for the month while in London the average Income Independence Day is on 26 May.
Contact us: Email: business@gazettemedia.co.uk Call: Karen McLauchlan 01642 234651 DIGITALCITY is offering digital entrepreneurs up to PS4,000 to cover living costs while they develop business models.
There are a plethora of reasons international students travel to Egypt including low living costs, well-established universities and the country's unique blend of Middle Eastern, African and Mediterranean cultures.
High rise in prices and living cost have pushed the people to find wicked ways to meet their living costs.