Cost-of-living Allowance (Noun)
Meaning
An allowance for changes in the consumer price index.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company provides a cost-of-living allowance to its employees to help offset the rising expenses of living in the city.
- Many expatriates rely on a cost-of-living allowance to maintain their standard of living while working abroad.
- The cost-of-living allowance is typically calculated based on the consumer price index and adjusted annually.
- As the cost of living in the area increased, the employees demanded a higher cost-of-living allowance to compensate.
- The new employee contract includes a cost-of-living allowance that is tied to the regional consumer price index.