Lower gas prices means no Social Security increase next year

They can blame low gas prices.


By law, the annual cost-of-living adjustment, or COLA, is based on a government measure of inflation, which is being dragged down by lower prices at the pump.


The government is scheduled to announce the COLA — or lack of one — on Thursday, when it releases the Consumer Price Index for September. Inflation has been so low this year that economists say there is little chance the September numbers will produce a benefit increase for next year.


Prices actually have dropped from a year ago, according to the inflation measure used for the COLA.



Source Article from https://www.freedomsphoenix.com/News/184658-2015-10-11-lower-gas-prices-means-no-social-security-increase-next-year.htm?EdNo=001&From=RSS

You can leave a response, or trackback from your own site.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes