Social Security raise to be among lowest in years
By Stephen Ohlemacher, Associated Press
WASHINGTON (AP) -- For the second straight year, millions of Social Security recipients, disabled veterans and federal retirees can expect historically small increases in their benefits come January.
Preliminary figures suggest a benefit increase of roughly 1.5 percent, which would be among the smallest since automatic increases were adopted in 1975, according to an analysis by The Associated Press.
Next year's raise will be small because consumer prices, as measured by the government, haven't gone up much in the past year.
The exact size of the cost-of-living adjustment, or COLA, won't be known until the Labor Department releases the inflation report for September. That was supposed to happen Wednesday, but the report was delayed indefinitely because of the partial government shutdown.
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http://finance.yahoo.com/news/social-security-raise-among-lowest-122727187.html
= new reply since forum marked as read
does not measure food or energy costs.
As Forbes noted in March of last year:
The USDA sees food prices rising 2.5%-3.5% in 2012 but many believe that inflation could be much higher.
same with gas and other energy costs.
PLUS Medicare costs go up every year for Soc. Sec. recipients.
How much depends on income levels of seniors.
2014 premium and deductible increases have yet to be announced.
My Soc. Sec. check will increase by a whopping 9.00 or so...
