cost of living

American  

noun

1. the average cost of food, clothing, and other necessary or usual goods and services paid by a person, family, etc., or considered as a standard by the members of a group.

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cost of living British  

noun

1. 1. the basic cost of the food, clothing, shelter, and fuel necessary to maintain life, esp at a standard regarded as basic or minimal

   2. ( as modifier )

      the cost-of-living index

2. the average expenditure of a person or family in a given period

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cost of living Cultural  

1. The average cost of the basic necessities of life, including food, shelter, and clothing.

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Discover More

In the United States, the cost of living is monitored in the consumer price index (formerly called the cost-of-living index), published monthly by the federal government.

Other Word Forms

• cost-of-living adjective

Etymology

Origin of cost of living

First recorded in 1895–1900

Example Sentences

She talked about the importance to her of measures to try to address the cost of living, and they were there in her Budget last week.

From BBC

Then there is their lifestyle - particularly when many people in the country face a cost of living crisis.

From BBC

He will say Chancellor Rachel Reeves's statement will help to alleviate cost of living pressures, lower inflation and ensure economic stability.

From BBC

Some retirees choose to move in an effort to save money and prioritize cost of living, while others want a new adventure in this next chapter of their lives.

From MarketWatch

He also pledged to lower the cost of living.

From Barron's