Explanation

The Cost of living is rising Every year things are more expensive

زندگی گزارنے کی لاگت بڑھ رہی ہے ہر سال چیزیں زیادہ مہنگی ہوتی ہیں۔

***

rising is used as the adjective here which means "going up, increasing, or sloping upward.l"

The above sentence is related to the present continuous tense in which the subject with the main verb's present particle form (ing)

and verb to be's present continuous tense: am, is, are

ND13-07-2023