Upward push in consumer prices should make some happy

06/18/2014 10:09 AM

06/18/2014 10:09 AM

Seniors and recipients of funding tied to the consumer price index will no doubt take note of the rise in prices in May.

The cost of living index went up 0.4 percent, the biggest reported jump since February 2013. Reported is the operative word.

Many people on Social Security and other fixed incomes depend on cost of living increases in their checks. Lately that’s not happened very much, and those folks are far from happy.

The reason is they feel inflation in the price creep of products and services, but that doesn’t get noted in the official accounting. Bloomberg News reports that the May increase in consumer prices exceeded all forecasts in its survey.

Costs rose 2.1 percent over the past 12 months. That’s going to make seniors anticipate a bigger increase in their Social Security checks to keep up if the upward trend continues.


Join the Discussion

The Kansas City Star is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Terms of Service