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Cpi W

All articles tagged with #cpi w

economy1 year ago

Social Security 2025: Historic Milestones and Significant COLA Changes Ahead

Social Security beneficiaries are set to receive a 2.5% cost-of-living adjustment (COLA) in 2025, the smallest increase since 2021 and below the 10-year average. This adjustment may not fully compensate for inflation, as recent data shows inflation reaccelerating, potentially reducing retirees' purchasing power. Retirees are advised to explore options like high-yield savings accounts or stock market investments to supplement their income.

via The Motley Fool|
#cola#cpi-w#economy
social-security2 years ago

2024 Social Security Benefit Increase: What You Need to Know

The official announcement of the increase in Social Security benefits for 2024 has not yet been published. The announcement is typically made in October once the Consumer Price Index for Urban Wage Workers and White-collar Workers (CPI-W) data for July, August, and September are available. The cost-of-living adjustment (COLA) is expected to go into effect in December and could be around 3% according to estimates from The Senior Citizens League.

via AS USA|
#cost-of-living-adjustment-cola#cpi-w#senior-citizens-league
finance2 years ago

2024 Social Security COLA estimate continues to shrink.

The annual cost-of-living adjustment (COLA) for Social Security beneficiaries in 2024 may be 2.7%, according to new estimates based on the latest consumer price index data. This is substantially lower than the record 8.7% COLA beneficiaries received this year due to record high inflation. The estimate is subject to change and could even point to a lower benefit increase for next year as inflation continues to subside. Despite inflation cooling, prices are still high, especially for categories like insurance and healthcare costs, which rarely decline. Some groups hope the measure for the annual COLA can be changed to the consumer price index for the elderly (CPI-E) to more accurately reflect the categories retirees spend their money on.

via NBC News|
#cola#cpi-w#finance
finance2 years ago

Social Security COLA for 2024 expected to shrink to 2.7%.

The annual cost-of-living adjustment (COLA) for Social Security beneficiaries in 2024 may be 2.7%, according to new data from the consumer price index. This is substantially lower than the record 8.7% increase seen this year due to high inflation. The estimate is subject to change and could even point to a lower benefit increase for next year as inflation continues to subside. The Senior Citizens League and Alliance for Retired Americans hope the measure for the annual COLA can be changed to the consumer price index for the elderly, or CPI-E, which would more accurately reflect the categories retirees spend their money on.

via CNBC|
#cola#cpi-w#finance