Sherri Myers, an 82-year-old retiree from Pensacola City, Florida, is now hoping to get an hourly job at Walmart to help make ends meet. "I would like to eat good but I can't. When I'm at the grocery store, I just walk past the vegetables because they are too expensive. I have to be very selective about what I eat - even McDonald's is expensive," she said.
Social Security Commissioner Martin O'Malley acknowledged concerns over the modest COLA increase: "I've heard the stories and it is a struggle for seniors. In their older years, they have to spend their money on a different array of costs and expenses, including prescription drugs."
The smaller increase for 2025, which is 2.5%, reflects moderating inflation, contrasting sharply with the historically large 8.7% hike seen in 2023 due to soaring inflation.
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