Prices have risen at a blistering pace — a huge blow for social security recipients facing rising costs for food, medical care and other expenses.
Thursday's consumer price index data is more important than most for millions of retirees and other Social Security recipients. That's because, under federal law, it will determine how large aThe adjustments were created to ensure that Social Security beneficiaries don't see their monthly checks eaten away by inflation.
The Social Security Administration uses a formula to calculate the annual COLA. It averages consumer price index figures from the third quarter and measures that against the comparable figure from the prior year.separate
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