As noted, there are to date many organizations and indexes which actively track the relative cost of living across the globe. These can be easily reviewed by anyone seeking additional information.
Below are three examples for your reference, along with their associated use.
The Economic Policy Institute
The Economic Policy Institute (or EPI for short) is a non-profit organization that was founded in 1986. Their index consists of the associated costs of living in various cities and regions across the US.
In particular, they are concerned with the nonpartisan needs of low and middle-income workers. They believe everyone has the right to affordable healthcare, along with security in their retirement.
Their website offers several calculators, to both better understand the prices of different regions and to compare these costs categorically. Moreover, their encyclopedic rendition on the State of Working America, has been published 12 times since 1988. It is currently available in e-book format, for those enterprising enough to delve into its voluminous and engrossing economic information.
Social Security Administration’s COLA Index
Cost of living adjustments (otherwise known as “COLA”) are made annually for retirees that are receiving their social security benefits. These adjustments take into consideration the rate of inflation.
The importance of these adjustments ensures that the paid benefits are not diminished by rising rates of inflation within the economy. This helps keeps retirees secure by hedging against percentile increases in the cost of living index.
The ACCRA COLA actively compares living expenses throughout the US, with a key focus on:
- Health care.
In 2019, the report clearly demonstrated that New York had the highest-rated cost of living index in the US, with San Francisco trailing closely behind.