Social Security Increase Among Lowest in Decades
WASHINGTON (AP) — Another year, another small raise for millions of people who rely on Social Security, veterans’ benefits and federal pensions.
An Associated Press analysis of preliminary figures suggests that benefits will increase by roughly 1.5 percent in January. The raise will be small because consumer prices, as measured by the government, haven’t gone up much in the past year.
For the second straight year, it would be among the lowest since automatic increases were adopted in 1975.
The exact size of the raise won’t be known until the Labor Department releases the inflation report for September. That was scheduled for this coming Wednesday, but the report was delayed because of the government shutdown.
Social Security has given no indication that raises would be delayed but advocates say the uncertainty is unwelcome.