![]() ![]() Judge rules Trump false election claims while in office covered by presidential. “Inflation is moderating, but a lower inflation rate has not necessarily meant that prices have decreased” for those items, TSCL wrote in a study published in May. Specifically, TSCL said the CPI-W does not reflect the “stubbornly high” prices that seniors continue to pay on key items, including prescription drugs, food, housing or dental services (which are generally not covered by Medicare). TSCL’s latest, slightly larger estimate comes despite cooling inflation, which generally has the opposite effect on Social Security benefit adjustments: For instance, soaring prices on consumer goods and services in 2022 fueled 2023’s benefits increase of 8.7%, to keep pace with inflation.īut, even when taking the higher 2024 estimate into consideration, representatives for TSCL have said that the CPI-W - an index which estimates the average cost for consumer goods and services, and which the Social Security Administration uses to calculate yearly COLA increases - is not necessarily a good metric for determining the average senior’s spending habits. Prices for these items rose and fell the most in June ![]()
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