WordNet (r) 3.0 (2006):

cost of living
    n 1: average cost of basic necessities of life (as food and
         shelter and clothing); "a rise in the cost of living
         reflects the rate of inflation"

Moby Thesaurus II by Grady Ward, 1.0:

34 Moby Thesaurus words for "cost of living":
   budget, budget items, burden of expenditure, carrying charge,
   charges, consumer price index, cost, cost-of-living allowance,
   cost-of-living index, costs, direct costs, disbursals,
   distributed costs, expense, expense account, expenses,
   general expenses, indirect costs, labor costs, liabilities,
   material costs, operating costs, operating expense, overhead,
   prime cost, real wages, replacement cost, standard of comfort,
   standard of life, standard of living, swindle sheet, take-home,
   take-home pay, unit cost