cost of living adjustment
noun[C]
ukus(abbreviationCOLA)ECONOMICS,HR
anincreasein a person'swages,pension, etc. that is madeonceayearaccordingto how much thepricesof things such asfood,transport, andhousinghaveincreased:
Because offallingconsumerprices, thegovernmentrecentlyannouncedthat there will be nocostoflivingadjustment(COLA) forSocialSecurityrecipientsthisyear.