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Recent hurricanes could boost Social Security benefits
If there can be any good news resulting from the recent devastating hurricanes, it’s that America’s seniors may see a somewhat better COLA increase than was projected just a couple of months ago. Because Hurricane Harvey shut down oil refineries which caused gas prices to rise, and because car sales to replace destroyed vehicles saw a substantial uptick, inflation was also nudged a little higher during the months used to set COLA. This MarketWatch article by Jeffry Bartash explains how higher inflation tied to the hurricanes is likely to pad COLA. Click here to read more.