September 25, 2022

Rocky Daily News

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With inflation still running hot, Social Security recipients could get $1,900 boost next year

1 min read

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Inflation rate drops from 40-year high, with consumer prices up 8.5% from a year ago

04:56

Older American and others on Social Security could get a significant bump in their annual cost-of-living adjustment next year, with experts forecasting that the typical recipient could receive an additional $1,900 in 2023 to keep up with inflation. 

Many seniors have struggled this year as their 2022 bump, 5.9%, lagged the hottest inflation in 40 years. Consumer prices cooled in July as gasoline prices dropped, but inflation remains scorching hot — up 8.5% from a year ago.

The Social Security Administration bases its annual COLA adjustment on…

Aimee Picchi

2022-08-11 10:29:22

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