"Social Security recipients will see a 2.5 percent increase in their monthly checks next year, the federal government announced Thursday. It’s a smaller hike than in recent years, which was expected given the cooling of inflation.Soaring prices in recent years brought unusually large cost-of-living increases in benefit checks, since Social Security payouts are automatically adjusted once a year based on a government measure of inflation. The annual adjustment, known as COLA, brought seniors a 5.9 percent boost in 2022, an 8.7 percent increase in 2023 (the largest in about 40 years) and a 3.2 percent increase in 2024."
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| Washington Post: "Social Security issues 2.5% COLA increase" |
