Iran Conflict Drives Up Gas Prices, Impacting Senior COLA

The Iran conflict, ongoing since February, has significantly impacted gas prices, causing a nationwide surge. As of early May, regular gas averaged $4.30 a gallon, a stark contrast to last Aprils $3.23. This energy crisis, coupled with a 3% inflation rate in March, is expected to push the CPI-W index higher, potentially leading to a 4% COLA for 2023. However, this increase may not provide immediate relief for retirees, as inflation continues to erode their purchasing power. 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/2243731ca1006952