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 ?
69% Global cost of living using New York as the base city
Anita Yadav, head of fixed income research at Emirates NBD Research, cited the decline in property rents as the biggest reason for a drop in the UAE's cost of living. Other factors were low oil prices last year and strengthening of the US dollar-pegged UAE dirham, which resulted in cheaper imports of food and other items into the UAE.
In March the Economist Intelligence Unit released the fifth installment of its annual study of the global cost of living, ranking Singapore the most expensive city on the planet.
Switzerland come in last place overall, with research showing it came out at the bottom of the pile in terms of paternity leave, childcare fees and cost of living. 4.
While London takes the top spot for take home salary, more expensive house prices and a higher cost of living means it only ranks 39th among the locations overall.
Sixty per cent of Kenyans said the county is headed in the wrong direction, citing high cost of living and corruption as some of their reasons.
BEIRUT: A new survey showed Beirut ranks as the world's eighth most expensive city in terms of the high cost of living for expatriates.
"Over the period from 2010 to 2016, there was an annual increase in the minimum cost of living. There were only two exceptions in 2012 and 2016, when the minimum living wage decreased," the NSC added.
The study found that 64% of respondents do not have a financial plan that addresses the rising cost of living in retirement.
THE cost of living in Cardiff for expatriates is now the cheapest it has been for at least a decade as a result of the pound's plunge since the Brexit vote, a survey has shown.
College towns offer an appealing mix of amenities, like events, restaurants and good schools, but they also tend to offer something else--a high cost of living and low wages, particularly for people with a college degree.
A decline in the cost of living index in July 2016 in comparison with the previous month was measured in vegetables, except potatoes, of 8.2 percent, eggs one percent, cheese 0.8 percent, rice, frozen fish and milk 0.5 percent, and baked products, yogurt, sugar, jam, honey, chocolate and confectionery products 0.3 percent.