![]() ![]() Explore 20 weather maps, including Doppler radar, UV index, satellite map, lightning alerts, precipitation, local temperature, wind chill, and more From heat index to pollen count, WeatherBug gives you everything. The Consumer Price Index, she said, does not accurately reflect the rising costs of items that older Americans more frequently spend their money on, including prescription drugs, food, housing or dental services (which are generally not covered by Medicare). This live weather app provides the fastest weather alerts, real-time weather conditions, accurate hourly & 10-day forecasts & more. ![]() Johnson, speaking with Nexstar ahead of last year’s COLA announcement, noted said that seniors have different spending habits than younger generations. “Inflation is moderating, but a lower inflation rate has not necessarily meant that prices have decreased,” TSCL writes in a study published earlier this month, in which the group argues that “key items” remain at “stubbornly high” prices. But analysts with TSCL are worried that cooling inflation - or at least the appearance of cooling inflation - will result in a smaller 2024 COLA increase that could have detrimental effects on beneficiaries. The 2023 increase, at 8.7%, was the largest COLA increase in over four decades, partially thanks to supply-chain disruptions which fueled soaring inflation amid the pandemic. ![]() The Senior Citizen’s League (TSCL), a nonpartisan senior advocacy group, has for years based its estimations of upcoming COLA increases on data from the Bureau of Labor Statistics and specifically its Consumer Price Indexes - the same data which is ultimately used by the Social Security Administration to determine its annual COLA increases. “The 2024 COLA could be around 3.1%,” Mary Johnson, the Social Security and Medicare policy analyst for the Senior Citizens League, said in a news release issued last week. (NEXSTAR) – Social Security recipients shouldn’t expect 2024’s cost-of-living adjustment (COLA) to be as significant as 2023’s, despite warnings that beneficiaries are losing their purchasing power. ![]()
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