Definition of the cost of living noun from the Oxford Advanced Learner's Dictionary

 

the cost of living

 noun
noun
BrE
 
; NAmE
 
[singular]
 
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the amount of money that people need to pay for food, clothing and somewhere to live a steady rise in the cost of living Despite the high cost of living, London is a great place to live.
See the Oxford Advanced American Dictionary entry: the cost of living