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Price growth is cooling across the economy. While that is good news for consumers, the timing of this progress on inflation could end up short-changing seniors and other Social Security recipients when they learn their annual cost-of-living increase later this year. According to the latest estimate from The Senior Citizens League, which regularly forecasts Social Security's cost-of-living adjustment , Social Security recipients can expect their monthly checks to increase by 2.
But in using this methodology, Social Security recipients' checks can start falling behind the overall pace of inflation, according to The Senior Citizens League: Price surges can occur — and abate — at any time of the year, and the COLA may not account for those changes, said Alex Moore, the organization’s Social Security and Medicare statistician and managing partner at Blacksmith Professional Services.
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