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.
How the cost of living has risen four times faster than our pay in the past five years.1  Price of gas has risen by 52 per cent and electricity increased by 32 per cent. 2  Biggest rise in car insurance having risen 67 per cent in the period. 3  Energy prices expected to rise further due to Â£150bn 'green' energy switch.he increase is four times higher than the rise in salaries over the same period, confirming the longest cost of living squeeze in a century.