Reported about 2 months ago
The July 2024 Consumer Price Index shows inflation for the year is below 3%, but essential costs for seniors—like groceries, healthcare, and housing—are increasing faster than the overall rate. Yahoo Finance's Kerry Hannon reveals how this may affect Social Security benefits in 2025, potentially leading to a 2.6% increase based on inflation data. The decision will depend on additional economic reports from August and September.
Source: YAHOO