Gas Prices Surge, Likely Boosting Social Security COLA

Gas prices surge, fueling talk of a bigger Social Security COLA for 2027. The national average for regular gas hit $4.08 in April, a 26% jump from last year. This March surge was the biggest monthly leap since 1967, driving consumer prices up 3.3% year over year. Social Security COLAs have swung wildly over the years, with this years at 2.8%, last years at 2.5%, and 2022s peaking at 8.7%. Folks on fixed incomes hope for a 4% bump, but analysts predict 3.2%. The official number will be announced in October, based on the Consumer Price Index for urban wage earners. Three percent or more seems likely, possibly higher if prices keep climbing. The adjustment aims to keep your checks pacing inflation, not make you rich, so watch those pump prices. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/8c203238d900a03d