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Wednesday’s inflation reading to determine Social Security rise

Lower gasoline prices look like they are here to stay for a while and that’s good news for consumers. It means already-low inflation is likely to recede and effectively give working-age Americans a pay raise. The same is not necessarily true for retired people: the annual increase in Social Security benefits won’t go up very much in 2015 given the low rate of official inflation. The increase for next year is likely to be 1.7%. Read more…

 

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