The opening balance from the prior month combined with the net of all transactions during the period should result in the closing balance for the current statement.
A cost-of-living raise is an increase in pay that's intended to keep the buying power of an employee's salary the same during a period of inflation.he biggest group affected by cost-of-living raises is Social Security recipients. Some employees have contracts that include automatic cost-of-living raises. Others work for companies that voluntarily increase pay to keep pace with inflation.
Today, rising cost of living is an everyday theme. In the bus, at the office and at the market, almost all conversations revolve around the rising prices.Increase of general price levels is generally known as âinflationâ.The common man feels the inflation when the prices of his consumer goods go up.He feels the rising cost of living with each increase of bus fare, bread prices and utility bill prices. The causes a lot of social problems which at its extreme form, cause social unrest.he common man feels the inflation when the prices of his consumer goods go up. He feels the rising cost of living with each increase of bus fare, bread prices and utility bill prices. The causes a lot of social problems which at its extreme form, cause social unrest.