COSTOFLIVING

Cost of living

Cost of living is the cost of maintaining a certain standard of living. Changes in the cost of living over time are often operationalized in a cost of living index. Cost of living calculations are also used to compare the cost of maintaining a certain standard of living in different geographic areas. Differences in cost of living between locations can also be measured in terms of purchasing power parity rates.

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cost of living

Noun

  1. The average cost of a standard set of basic necessities of life, especially of food, shelter and clothing


The above text is a snippet from Wiktionary: cost of living
and as such is available under the Creative Commons Attribution/Share-Alike License.

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