Social Security benefits and SSI payments will increase in 2025, helping tens of millions of people keep up with expenses even as inflation has started to cool.
Inflation is clearly top of mind, not just for retirees, but for Americans generally, and the annual COLA provided by Social Security is a critical feature of the system.
While the reduction is lower when compared to years past, it will still be welcomed by program beneficiaries, reflecting a response to cooling inflation.
Despite positive economic news such as moderating inflation, this may not translate into improved feelings about the cost of living.
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