How Do You Spell COST OF LIVING ADJUSTMENT?

Pronunciation: [kˈɒst ɒv lˈɪvɪŋ ɐd͡ʒˈʌstmənt] (IPA)

The spelling of "cost of living adjustment" can be a bit tricky. The first word, "cost," is spelled with the /k/ sound followed by the long /o/ sound and the /s/ sound. The second word, "of," is spelled with the short /ɒ/ sound and the /v/ sound. The third word, "living," is spelled with the long /aɪ/ sound followed by the /v/ sound and the /ɪŋ/ ending. Finally, the last word, "adjustment," is spelled with the /ə/ sound, the /dʒ/ sound, the short /ʌ/ sound, and the /mənt/ ending.

Meaning and Definition
Common Misspellings
Plural
Basic Check Advanced Check

COST OF LIVING ADJUSTMENT Meaning and Definition

  1. Cost of living adjustment (COLA) refers to the regular and periodic adjustment made to wages, salaries, pensions, or government benefits, specifically designed to keep pace with the changes in the cost of living. The purpose of a cost of living adjustment is to offset the impact of inflation, ensuring that the purchasing power remains relatively stable over time.

    COLA is typically calculated by using a specific index, such as the Consumer Price Index (CPI), which measures the average price changes for a predetermined basket of goods and services consumed by households. When the index shows an increase in the general level of prices, the adjustment is typically made accordingly, usually on an annual basis. This adjustment can apply to various sectors, including public and private sector employees, retirees, and recipients of government welfare programs.

    The cost of living adjustment aims to ensure that individuals and households can maintain their standard of living in the face of rising prices. By increasing wages or benefits in line with inflation, individuals are able to afford the same quantity of goods and services as before the price increases. However, it is important to note that the effectiveness of COLA may vary depending on individual circumstances, as costs can differ from person to person and not all expenses are captured by the selected index.

    Overall, the cost of living adjustment serves as a mechanism to prevent the erosion of purchasing power and to help individuals and families maintain their financial stability amidst changing economic conditions.

Common Misspellings for COST OF LIVING ADJUSTMENT

  • xost of living adjustment
  • vost of living adjustment
  • fost of living adjustment
  • dost of living adjustment
  • cist of living adjustment
  • ckst of living adjustment
  • clst of living adjustment
  • cpst of living adjustment
  • c0st of living adjustment
  • c9st of living adjustment
  • coat of living adjustment
  • cozt of living adjustment
  • coxt of living adjustment
  • codt of living adjustment
  • coet of living adjustment
  • cowt of living adjustment
  • cosr of living adjustment
  • cosf of living adjustment
  • cosg of living adjustment
  • cosy of living adjustment

Plural form of COST OF LIVING ADJUSTMENT is COST OF LIVING ADJUSTMENTS