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The Social Security Raise for 2024 Just Got Bigger

Consumer prices climbed 3.7% year over year in September, according to data released Thursday by the Bureau of Labor Statistics. The COLA calculation is based on a subset of the headline consumer price index called the consumer price index for Urban Wage Earners and Clerical Workers (CPI-W), which rose 3.6% over the past 12 months. The calculation compares the average consumer price index from the third quarter of 2023 and the average data from the same period last year.
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