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iragen [17]
4 years ago
13

What is the purpose of a cost of living adjustment

Social Studies
1 answer:
Marta_Voda [28]4 years ago
8 0
Hello there!

cost of living adjustment (COLA) 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 livingallowance.


Hoped this helped!

~Christy
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