cost of living(redirected from costs 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.