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The 68 million Americans who receive Social Security payments might be in for a rude awakening next year, as their checks aren’t expected to have a cost-of-living increase next year.
The average monthly check would remain at $1,460 due to low-rising inflation over the year. This year’s increase was 1.6 percent due to the cost of living, but one analyst points out that while gasoline prices have hit lows, grocery prices have spiked this spring.