elinkustannus

Elinkustannus is a Finnish term describing the total cost required to maintain a given standard of living. It covers expenditures on goods and services necessary for daily life, such as housing, food, clothing, transportation, healthcare, education, and leisure.

In economics elinkustannus is typically estimated through price level measures and cost-of-living indices, which compare how much it costs to sustain a specified standard of living over time or across locations. In Finland, official statistics bodies such as Tilastokeskus (Statistics Finland) publish price indices and related indicators that are used to approximate elinkustannus, and these are often employed to adjust wages, pensions, or social benefits to reflect changes in living costs. The concept is also used in international comparisons by applying purchasing power parity and cross-country price level data.

Limitations include that the measure depends on the chosen basket of goods and services, may vary regionally, and may not capture non-monetary costs or qualitative changes in living standards. Additionally, household size and personal preferences affect actual expenditures, so elinkustannus should be viewed as an aggregate indicator rather than a precise forecast for any individual.

See also: cost of living, consumer price index, standard of living, purchasing power parity.