Inflation Is Cooling. Will That Be Bad News for Social Security Recipients in 2024?

Inflation Is Cooling. Will That Be Bad News for Social Security Recipients in 2024?

It's fair to say that many seniors on Social Security struggled to cover their bills in 2022 due to inflation. Meanwhile, that 8.7% COLA is already helping seniors on Social Security gain buying power. The rate of inflation has dropped substantially since that COLA got approved in October 2022.