The roughly 65 million retirees who collect Social Security benefits in the US will get a 8.7% increase next year, the largest bump since 1981, to compensate for the highest inflation bout in decades
Problem is the inflation numbers are made up. It's a lot more. Next month well over 9% and climbing. They just needed to hold the appearance down until the COLA decision was made.
I heard on a podcast (I think Greg Hunter USA Watchdog) that the gasoline prices were lowered by using our reserves to keep the COLA lower since the fiscal year for government closes at the end of Sept. Notice that since the end of Sept, the gas prices are creeping up.
Here's the sauce John Williams https://rumble.com/v1nksj6-inflation-75-year-high-unemployment-24-john-williams.html start 14:00 min This is a good interview (about 42 min)