Anne Tergesen

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4,485 appearances 83 recordings 1 series first heard Jul 2017 last heard Feb 2025

Anne Tergesen’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · High Inflation Means Benefits Increase for Social Security Recipients · 11 Aug 2022 podcast

And whatever the increase is, is what Social Security beneficiaries get.

So it's this July, August, and September's inflation compared to last July, August, and September's inflation rate.

Right.

So we only have one of those three readings right now.

The July data just came out and it showed inflation rising by 9.1% over the past 12 months.

Yeah, no, that's the headline number, right?

But the Social Security Administration actually uses a different measure of inflation than that.

It uses something called the CPI for urban workers.

And according to that gauge, inflation was even higher.

And that number did not come in at 8.5% in July.

That number actually came in at 9.1% in July.

It's even higher than

And if the readings come in on a similar level to that 9% for August and September as well, Social Security recipients will be on track to seeing the highest cost of living adjustment in over 40 years.

And by one estimate, that could come in around 9.5% as the Social Security COLA, which is the cost of living adjustment.

Yeah, I'm sure they are, because, you know, this year, Social Security recipients got a 5.9% increase, which seemed really great when it was announced last October.

You know, but that really hasn't kept pace with what we actually are seeing from inflation, which is more on the order of 9%.

So, you know, I'm sure that that'll be great for Social Security recipients to actually sort of have a little bit of a catch up to where inflation really has been in recent months.

So not only have people's Social Security benefits, the adjustment lag behind the actual rate of inflation.

So people's spending power has diminished over the course of the year.

But, you know, in many cases, people's stock portfolios are also lower.

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