Social Security: Seniors feel the pinch of no benefit increase
Inflation has barely budged in recent months, but try telling that to the seniors who won't be getting an increase in their Social Security benefits next year.
The government reported its consumer price index was up 1.1% over the last year, indicating inflation is still sluggish.
But with prices up on health care, food and other essentials, it sure won't seem that way to the 58 million retirees and disabled Americans who depend on Social Security checks.
After analyzing the latest inflation figures released Friday, the Social Security Administration announced it won't be giving out a cost-of-living adjustment, or COLA, to those folks in 2011.