"2024 COLA Stagnant Amidst CPI Report's Indication of Decreasing Inflation"

The forecast for next year's Social Security cost-of-living adjustment (COLA) remains at 3% despite a slight increase in inflation. Seniors are still struggling as the COLA hasn't kept pace with rising prices, and many are putting off medical care to cover daily expenses. Taxes are also eating into Social Security benefits, with more retirees paying taxes on their benefits. The next COLA will be announced in October and take effect in January 2024.