An overview of the general cost of living index for Central Falls, RI is displayed above for your reference. Residents in Central Falls, RI enjoy a cost of living index of 111. This index is 9% lower than the Rhode Island average, and 11% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Central Falls, RI, the average cost of goods and services is equal to it is in Rhode Island, and it is 23% higher than the national average.