As the cost-of-living adjustment, or COLA, comes into effect next year,
Social Security beneficiaries can expect slightly smaller increases due to steady inflation in September,
according to government data released on Thursday.
Annual inflation was 3.7% in September, matching August's increase,
But down from a 40-year high of 9.1% in June 2022. Food and energy sectors contributed to
the volatile "core" inflation rate falling from 4.3% in August to 4.1% in September.
It's true that inflation is about double the Federal Reserve's 2% target,
But it's mostly lower, which means Social Security beneficiaries will see a lower COLA.