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cost of living Definition

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cost of living
noun phrase(cost of living)
the cost of purchasing those goods and services which are included in an accepted standard level of consumption
cost of living
noun(cost of living)
consumer price index
cost of living
noun(cost of living)
an index measuring the change in the cost of typical wage-earner purchases of goods and services expressed as a percentage of the cost of these same goods and services in some base period —called also cost-of-living index

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