Latest News
Although Increasing, Inflation Remains a Serious Concern for Seniors
You’ve probably seen a range of news accounts suggesting that the cost-of-living adjustment for 2025 will be a bit lower than the increases of the past few years. That projection, of course, is the mathematical effect of the consumer price index (CPI-W) falling in comparison to last year, but the lingering impact of higher prices in many areas is the real negative impact of this problem. MarketWatch retirement reporter Alessandra Malito discusses this impact in a post on their website…access it here. As Ms. Malito points out, despite lower inflation projections, retirement savers realize ” … it’s going to take some time for relief to hit their wallets.”
The inflation-cost conundrum presents a major challenge for seniors, as explained in recent posts by The Senior Citizens League (TSCL). In a recent press release, TSCL reports that “the value of seniors’ benefits has declined by 20 percent since 2010,” despite annual COLA awards designed to keep benefits at least somewhat aligned with rising costs. Read the TSCL post here.