The newest Social Security cost-of-living adjustment (COLA) projection for 2024 pushed higher even though inflation in the United States managed to decline in June, reaching its lowest point in over 2 years. As per information issued on Wednesday by the U.S. Bureau of Labor Statistics, total inflation increased by 3% in June 2023 compared to the … Read more
The COLA 2024 increase for Social Security recipients is likely the lowest in previous years, predicted by Senior Citizen’s League. COLA 2024: Five Points From Steep May Inflation Decline 1. The numbers utilized y the Social Security Administration to determine the annual COLA 2024 don’t reflect the high prices seniors continue to pay on … Read more
The good thing is that inflation is on the decline. A year after observing the highest annual cost-of-living adjustment in 4 decades, Social Security recipients are set to skip out on a further significant increase in their purchasing power in 2024 due to an irregularity of the calendar. A group already dealing with the rising cost … Read more
Although worries that beneficiaries have decreased their buying power, Social Security users shouldn’t anticipate the cost-of-living adjustment (COLA) for 2024 to be as big as the one for 2023. According to a press release issued this week from Mary Johnson, the Senior Citizens League’s Social Security and Medicare policy expert, the COLA in 2024 “might … Read more
Recent government inflation data shows that this year’s inflation is decreasing. That only means a Lower Cost of Living Adjustment in 2024 for Social Security Beneficiaries. The current drop in inflation will result in Social Security beneficiaries buying power decrease next year Millions of Social Security Beneficiaries have to play financial catch-up since the … Read more