The Latest Inflation Data Means Good and Bad News for Social Security Recipients
An above-average increase is likely on the way, but will retirees feel the full effect?
Overview
Few, if any, Social Security changes are as anticipated as the annual cost-of-living adjustment (COLA). Implemented at the beginning of each year, the COLA is meant to offset the effects of inflation. It's far from perfect, but any boost is much better than none.
The Bureau of Labor Statistics recently released inflation numbers that showed that inflation cooled from June to July. However, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was up 3.4% from last year.
Details
Let's take a look at why that has good and bad implications for Social Security recipients.
Source
Originally published at www.fool.com.
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