Social Security recipients who are approaching fall have a pressing question on their minds: “How large will my raise be for the following year?” The sum that is going to be earned will be decided by next month. However, Social Security COLA 2024 can offer you a good indication if you analyze monthly inflation data. The latest recent statistics have been made public.
The current value of your Social Security COLA 2024 rise is shown below. Additionally, inflation is rising. The Bureau of Labor Statistics (BLS) releases an overview of the consumer price index each month. This report gives a brief overview of the inflation patterns from the previous month. Economists are closely monitoring these numbers, especially those at the Federal Reserve.
The August report’s main takeaway is that inflation is increasing. The Consumer Price Index for All Urban Consumers (CPI-U), usually referred to as the main inflation index, increased by 3.7% on an annual basis and 0.6% every month in 2017.
Leave a Reply