cost of living adjustment (COLA)
Definition
Periodic increase in wages or salaries, to compensate for loss in purchasing power of money due to inflation. Rate of COLA is commonly pegged to a general index such as consumer price index (CPI). Also called cost of living allowance.
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cost of living adjustment (COLA) is in the Accounting & Auditing, Economics, Politics, & Society and HR, Teams, & Training subjects.
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