In the fall of each year, the U.S. Bureau of Labor Statistics determines the CPI-W for the third quarter. Officials then compare it with the CPI-W for the third calendar quarter of the last year in which a cost-of-living adjustment (COLA) was awarded. If the comparison shows prices have gone up between those third-quarter periods, Social Security grants a cost-of-living hike. Increases are rounded to the nearest 10th of a percent and paid starting in January.
What does this mean for 2017? Social Security's last inflation increase came in 2014. That means the 2017 decision will be based on comparing the third quarter of this year with the third quarter of 2014. In June, Social Security's trustees estimated that the upcoming comparison would lead to a 2017 inflation increase of 0.2 percent.
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Today's Featured Article - Sunday Drives - by Cowboy. Summer was finally upon us here in Northern Maine. We have two types of industry up here, one being "Forestry" (Wood Products) and the other "Farming" (Potatoes). There is no shortage of farm tractors and equipment around here! I have been restoring old Farm Tractors for the past 6 years, and have found it easier and less expensive to hit all the auctions and purchase whole tractors for parts needed. My wife who works at a local school, and only has weekends and summers off, while on t
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