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Will the bump in Social Security benefits be enough to offset inflation?

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For older Americans and retirees, there was some helpful news to accompany the latest inflation report. Americans taking Social Security will see an 8.7% bump in their benefits. That's starting in January thanks to the 2023 cost of living adjustment, known as the Social Security COLA. But how much will it help? Economics Correspondent Paul Solman breaks it down.

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Category
U.S. & Canada
Tags
social security administration, social security benefits
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