Social Security beneficiaries who are struggling with high prices may get welcome news when the cost-of-living adjustment for 2023 is announced
The estimates are based on a subset of the CPI data known as the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W. The Social Security Administration uses that measurement to determine the COLA each year.
The fact that the estimates have gone down in recent months does not necessarily coincide with a decline in inflation for seniors, according to Johnson.
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