Reference > The New Dictionary of Cultural Literacy > 18. Business and Economics
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  The New Dictionary of Cultural Literacy, Third Edition.  2002.
 
cost of living
 
 
The average cost of the basic necessities of life, including food, shelter, and clothing.  1
‡ 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.  2
 
 
The New Dictionary of Cultural Literacy, Third Edition. Edited by E.D. Hirsch, Jr., Joseph F. Kett, and James Trefil. Copyright © 2002 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.

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