The cost-of-living adjustment will be 8.7 percent next year, bringing relief to retirees and others who rely largely on the payments.
Tag: Prices (Fares, Fees and Rates)
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Markets Plunge After High CPI Inflation Reading
Stocks and bonds fell sharply as stubborn price pressures made it more likely that the Federal Reserve will continue raising interest rates aggressively.
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U.S. Job Growth Eases, but Is Too Strong to Suit Investors
The gain of 263,000 was shy of recent monthly totals but still robust. Stocks fell on fears of a harder, longer Fed campaign to fight inflation.
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Gas Prices in U.S. Rise Amid West Coast Refinery Shutdowns
The gains could raise pressure on policymakers, but analysts say the higher prices may be short-lived as refineries in California and Washington restart production.
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Wages continued to climb, keeping the Fed on course.
Despite slowing slightly, wage growth remains strong. Fed officials are likely to see that as a green light to stay focused on cooling the economy.