New inflation data surprises Wall Street - here's what it means for Social Security uplifts for next year
Consumer prices were up 2.4 percent from a year earlier in September, according to new data released Thursday by the Bureau of Labor Statistics. This was higher than expectations, which were for a 2.3 percent annual rate of inflation. The Social Security Administration has announced the cost-of-living adjustment for 2025 off the back of the inflation numbers. The cost-of-living adjustment, or COLA, is the yearly increase to monthly Social Security benefits that millions of seniors rely on.
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