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.
Essential bills for food, heat, light, transport and insurance have soared by 25 per cent in only five years, research reveals. The increase is four times higher than the rise in salaries over the same period, confirming the longest cost of living squeeze in a century.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.