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Social Security's 2025 COLA estimate inches up but Medicare Part B premium may wipe it out

Posted on AllSides May 15th, 2024
From The Left

The latest estimate of Social Security's cost-of-living adjustment for 2025 rose to 3.2% after the government reported that April inflation was in line with economists' forecasts, new calculations showed Wednesday. The 2025 COLA estimate has risen all year as inflation remains elevated and above the Federal Reserve's 2% target. It stood at 1.75% in January, 2.4% in February, and 3% in March. Overall prices increased 3.4% from a year earlier, down from 3.5% in March, according to the Labor Department’s consumer price index, a gauge of goods and services costs...

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