Millions of Americans who rely on Social Security will have to wait longer to find out how much their benefits will rise next year as the ongoing government shutdown delays key inflation data.
The Social Security Administration uses September’s Consumer Price Index to calculate the annual cost-of-living adjustment, or COLA, but the Bureau of Labor Statistics has halted data collection during the shutdown.
The announcement, typically made in mid-October, determines benefit increases for more than 72 million retirees, disabled Americans and survivors. Even if Congress reaches a deal soon to reopen the government, officials say processing delays will likely push back the release of the inflation report and the long-awaited COLA update.
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