cost-of-living adjustments (cola)
Cost-of-living adjustments (COLA) refer to regular increases in wages, salaries, or benefits, typically based on the changes in the price of goods and services. These adjustments are designed to help individuals maintain their purchasing power and cover the rising costs associated with basic needs, such as food, housing, and healthcare.
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Related Concepts (2)
Similar Concepts
- adjusting cost-of-living formulas
- adjustments for inflation
- border carbon adjustments (bca)
- changes in living situation and ssi benefits
- co-payments
- compensation and benefits
- cost of living
- cost-of-living adjustments
- government salary reductions
- health care costs
- making adjustments
- retirement age adjustment
- retirement benefits
- tax rate adjustments
- wage stability