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- Dictionarycost of living
noun
- 1. the level of prices relating to a range of everyday items.
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noun
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The cost of living is the cost of maintaining a certain standard of living for an individual or a household. Changes in the cost of living over time can be measured 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 the cost of living between locations can be measured in ... Wikipedia