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The impact of higher oil prices on Social Security - Newsweek
If the current tensions continue, seniors may see a larger cost-of-living adjustment (COLA) in 2027. Why? If oil prices continue to rise due to the war, this may lead to an increase in overall inflation numbers. Since Energy costs are 6.2 percent of the Consumer Price Index for Urban Wage Earners and Clerical Workers, known as the CPI‑W, which is used to calculate the COLA. Suzanne Blake, writing for Newsweek, explains how Social Security COLA payments could change due to the Iran war. Read Ms. Blake’s article here…
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