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.
Most cost-of-living raises only go one way. There is no pay cut in the case of deflation. The recession did reduce inflation to zero in 2009 -- in fact the CPI went down slightly over 2008.