Inflation and Consumer Prices Up, Benefits Will Rise
by Guest Blogger, 10/14/2005
This article in today's Washington Post noted that both inflation and consumer prices are up sharply. The CPI, which rose 4.7 percent over the past year, saw the biggest 12-month increase since May, 1991. The Post reported that Social Security payments will increase 4.1 percent in January for more than 50 million retired and disabled workers. The increases will help recipients keep up with inflation, which was up last year mainly because of rising energy costs. Energy prices were up 35 percent over the past 12 months.
