Just how old-fashioned is Labour’s ‘cost of living’ campaign?

Labour’s appeal to the cost of living has a rather old-fashioned feel to it: as if the whole nation still heated water with a geyser over the bath and darned (or got me to darn) its socks of an evening. ‘Till recent years the phrase “Cost of Living” was only used loosely by economists when the balance between movements of wages and prices was in question,’ the Encyclopædia Britannica remarked in 1922.