Social Security recipients will see a 2.5 percent bump as part of their cost-of-living adjustment (COLA) for 2025. The increase announced on Thursday marks the smallest in years and is in line with experts’ expectations as inflation has eased some. Millions of recipients saw their biggest increase at 8.7 percent last year following decades-high inflation during the pandemic. Social Security Commissioner Martin O’Malley said on Thursday that the increase will help “tens of millions of people keep up with expenses even as inflation has started to cool." As a result of the boost, the agency said almost 70 million beneficiaries will see the 2.5 percent adjustment starting next January.
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