The 2.5% cost-of-living adjustment for Social Security is the lowest since 2021, translating to a $49 increase for retirees, limiting financial relief.
Despite the low COLA increase, essential costs like health care, insurance, and basic food items continue to rise sharply, consuming much of the monthly benefit.
AARP highlights concerns regarding Medicare Part B premiums potentially offsetting any gains from the COLA, calling for major reforms to protect retirees' financial stability.
While some areas of inflation have decreased, the overall lower COLA still primarily serves to maintain purchasing power rather than substantially improve retirees' financial situations.
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