US inflation rises 3.7% in September; Social Security benefits to increase
Consumer prices jumped annually in September, prompting the Social Security Administration to announce higher benefits for next year.
At a glance
- Consumer prices jumped 3.7% year-on-year in September
- Social Security Administration announced benefits will rise next year
- The increase aims to help recipients cope with rising living costs
Consumer prices in the United States rose 3.7% in September compared with a year earlier. In response, the Social Security Administration announced that benefits will increase next year to help recipients manage the higher cost of living.
The benefit increase is designed to help Social Security recipients keep pace with inflation.
Why it matters
Social Security adjustments tied to inflation help millions of retirees and disabled Americans maintain purchasing power as living costs rise.
Original reporting
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