Good news at the pump, bad news for older Americans: No increase in Social Security next year

WASHINGTON — For just the third time in 40 years, millions of Social Security recipients, disabled veterans and federal retirees can expect no increase in benefits next year, unwelcome news for more than one-fifth of the nation's population.

They can blame low gas prices.

By law, the annual cost-of-living adjustment, or COLA, is based on a government measure of inflation, which is being dragged down by lower prices at the pump.

http://www.startribune.com/falling-gas-prices-means-no-social-security-cola-next-year/331917701/