cost of living adjustment Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “cost of living adjustment” in the English Dictionary

"cost of living adjustment" in Business English

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cost of living adjustmentnoun [C]

uk   us   ( abbreviation COLA)
ECONOMICS, HR an ​increase in a person's ​wages, ​pension, etc. that is made once a ​year according to how much the ​prices of things such as ​food, ​transport, and ​housing have ​increased: Because of ​fallingconsumerprices, the ​government recently announced that there will be no ​cost of ​livingadjustment (COLA) for Social Security ​recipients this ​year.
(Definition of cost of living adjustment from the Cambridge Business English Dictionary © Cambridge University Press)
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