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IPFS News Link • Social Security

Lower gas prices means no Social Security increase next year

• apnews.myway.com

They can blame low gas prices.

By law, the annual cost-of-living adjustment, or COLA, is based on a government measure of inflation, which is being dragged down by lower prices at the pump.

The government is scheduled to announce the COLA — or lack of one — on Thursday, when it releases the Consumer Price Index for September. Inflation has been so low this year that economists say there is little chance the September numbers will produce a benefit increase for next year.

Prices actually have dropped from a year ago, according to the inflation measure used for the COLA.


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