{"id":1916058,"date":"2023-04-18T02:41:59","date_gmt":"2023-04-18T06:41:59","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-recipients-could-receive-smaller-cost-of-living-adjustment-next-year\/"},"modified":"2023-04-18T02:44:11","modified_gmt":"2023-04-18T06:44:11","slug":"social-security-update-recipients-could-receive-smaller-cost-of-living-adjustment-next-year","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-recipients-could-receive-smaller-cost-of-living-adjustment-next-year\/","title":{"rendered":"Social Security update: Recipients could receive smaller cost-of-living adjustment next year"},"content":{"rendered":"

22<\/div>SHARES<\/span><\/div>

<\/span>Facebook<\/span><\/a><\/span>Twitter<\/span><\/a>

A<\/span>s inflation<\/a> continues to decline, Social Security<\/a> recipients are set to receive a much smaller cost-of-living adjustment than last year. <\/p>\n

According to Fox 5 New York, the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W, is the basis for the quarterly COLA. The Senior Citizens League, a group that advocates for senior citizens, estimated that the COLA will increase by 3 % the following year at the current rate. The COLA increased by 8.7 % compared to last year.<\/p>\n

SOCIAL SECURITY UPDATE: In three days, 555 people receive a direct payment worth up to$ 4.<\/a><\/b><\/p>\n

The increase would be$ 54, added to the current monthly check of$ 1, 827, if circumstances stay the same by October, when it is announced. The increase could be even less if current trends continue, according to Mary Johnson, a plan researcher with the SCL.<\/p>\n

It appears that the COLA for 2024 will be lower than 3 % if inflation continues to fall at the present price, she said. According to recent Senior Citizens League survey results, current high inflation has had long-term fiscal effects on many older households, making recovery difficult, even though easing inflation may reduce older consumers.<\/p>\n

MORE FROM THE WASHINGTON EXAMINER BY CLICKING HERE<\/a><\/b><\/p>\n

Johnson emphasized that the COLA is subject to change and that there is still a ways to go before it is announced in October.<\/p>\n

The record-breaking 8.7 % increase has so far surpassed the anticipated inflation by an average of 2.6 % per month. The COLA undershot anticipated inflation by a total of$ 1, 054 last year.<\/p>\n<\/div>\n

<\/body><\/html><\/p>\n","protected":false},"excerpt":{"rendered":"

As inflation continues to decline, Social Security recipients are set to receive a much smaller cost-of-living adjustment than last year. The annual COLA is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, or the CPI-W, according to Fox 5 New York. The Senior Citizens League, an activist group for senior<\/p>\n","protected":false},"author":1,"featured_media":1916059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[24560,8017,5563,9846,3646,5127,5002],"class_list":["post-1916058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-adjustment","tag-cost-of-living","tag-receive","tag-recipients","tag-security","tag-social","tag-update"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1916058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1916058"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1916058\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1916059"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1916058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1916058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1916058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}