Yesterday, Christopher Nalls & I spoke about the smaller cost of living adjustment to Social Security benefits this year (2.5% compared to last year's 3.2% and even higher rates in years prior). For the average recipient, this means they will earn an extra $50/month next year. The lower adjustment this year is in response to falling #inflation (e.g., CPI only rose 2.4% over the past year), even if prices still feel high relative to the past & recipients hoped for a larger increase. While this increase is larger than the average increase from 1990 to 2020 (2.36%), increases in 2021 (5.9%) and 2022 (8.7%) were more than twice as large, frustrating many recipients. Mississippi State University College of Business Mississippi State University #WeMeanBusiness WTVA #SSA #COLA #SocialSecurity https://lnkd.in/g5FA2BqU