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 ?
We expect Dubai and Abu Dhabi to rise in cost of living terms as a result over the next survey cycle," she added.
Overall, the rankings of 16 cities increased, reflecting a rise in their cost of living, while the rankings of nine cities declined and those of five cities were unchanged among the 30 most expensive cities in the world.
Every city wants to offer good jobs, an affordable cost of living and a great quality of life.
Bankrate found it had very high cost of living, below average well-being for seniors, very high taxes, below average health care quality and below average weather.
But if the government removes subsidies for essential things, such as oil, gas and food items, it will increase prices, which will increase the cost of living.
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.
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.
Categories: Education, Aid for education, College students, Colleges and universities, Cost analysis, Cost of living, Education, Education or training costs, Educational allowances, Educational grants, Families, Federal grants, Financial analysis, Higher education, Pell Grant, Price adjustments, Secondary school students, Student financial aid
Dubai is ranked at number 20 in the global Cost of Living index compiled on an annual basis by international human resources consultancy Mercer - having moved up from place 52 in the 2007 list.
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.