cost of living

(redirected from Living Costs)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.

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 ?
Halifax's research shines a light on just how many days of the month the average household must work in order to cover their living costs and have money left to do with as they wish.
The charity said 20% of households currently bring in less than PS423 a week and its calculations showed that - after covering basic living costs - a family of four on this income could not afford a seaside trip in any location surveyed.
He added that the project, which is being implemented in cooperation with the World Health Organisation (WHO), will cover the families and needy categories to alleviate difficulties of 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.
79 pounds to attend a Canadian university in 2012/13, including the price of tuition fees, living costs and flights.
Monthly living costs are up from pounds 848 in 2011 to pounds 910 today.
Earlier this year he launched a "walk-to-work" protest over high living costs.
Lebanon's citizenry are no longer able to keep up with rising living costs, because governments have refused to modify the minimum wage in accordance with mounting inflation rates, said Ghosn.
For full-time students there are loans to help towards your living costs.
Summary: Living costs have risen 50 per cent more quickly for the poorest families during the recession, as inflation remains at 4.
For fulltime students there are loans to help towards your living costs.