cost of living


Also found in: Thesaurus, Legal, Financial, Acronyms, Encyclopedia, Wikipedia.

cost of living

n.
1. The average cost of the basic necessities of life, such as food, shelter, and clothing.
2. The cost of basic necessities as defined by an accepted standard.

cost′-of-liv′ing adj.

cost of living

n
1. (Economics)
a. the basic cost of the food, clothing, shelter, and fuel necessary to maintain life, esp at a standard regarded as basic or minimal
b. (as modifier): the cost-of-living index.
2. (Economics) the average expenditure of a person or family in a given period

cost′ of liv′ing


n.
the average that a person or family pays for such necessary goods and services as food, clothing, and rent.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.cost of living - average cost of basic necessities of life (as food and shelter and clothing); "a rise in the cost of living reflects the rate of inflation"
cost - the total spent for goods or services including money and time and labor
References in classic literature ?
30 per cent., while the cost of living had gone up 100; and that with us, in a shorter time, wages had ad- vanced 40 per cent.
Here she faced the financial and economic problem of keeping house in a society where the cost of living rose faster than the wages of industry.
Often there was a mile or more to walk, during which Philip and the messenger discussed the conditions of labour and the cost of living; Philip learnt about the various trades which were practised on that side of the river.
As economists put it, the cost of living represents the amount of money that households pay for gas, housing, clothing, food, and all other everyday expenses.
e reason the cost of living can feel like it changes over time is because one set of prices might be changing at a dierent rate to another.
According to Mercer's 2019 Cost of Living survey of 500 cities released on Wednesday, Dubai's ranking jumped from 26 to 21 while Abu Dhabi rose from 40 to 33.
According to Mercer, the ranking of other Gulf cities also moved up due to the pegging of their currencies to the greenback but actual cost of living went down some of those cities.
Mercer's survey examined the cost of living in 2,089 cities across the world.
Manila's latest rank is 29 spots higher from its ranking in the previous Cost of Living Survey, which made it among the four destination with the sharpest climb together with Ashgabat in Turkmenistan, Phnom Penh in Cambodia and Havana in Cuba.
'While the Philippines' robust economic growth continues to attract talent, business and investments from all over the world, the findings of Mercer's 2019 Cost of Living study should signal its public and private sectors to take a deeper look and start a conversation on which factors are behind the dramatic increase in its cost of living from 2018 to 2019, and how they can be addressed or mitigated to ensure the country's continued competitiveness,' said Mario Ferraro, mobility leader for Asia, Middle East, Africa and Turkey at Mercer.
Ashgabat in Turkmenistan saw the biggest rise in rankings, jumping 36 places from 43rd in 2018 "as a result of the country's shortage of currency and imported goods driving up prices." "Despite the relatively high cost of living, many organizations still see a strong business rationale for moving talent into and within the region," said Mario Ferraro, Mercer's global mobility practice leader for Asia, Middle East and Africa.