Cooling Inflation Might Lead to a Smaller Social Security COLA. It's Still a Good Thing
The fact that inflation has been cooling is no doubt a good thing for consumers. Since mid-2021, many people have been struggling with higher living costs and have had to result to credit card debt just to stay afloat.
In fact, collective U.S. credit card balances topped the $1 trillion mark during the second quarter of 2023. And it's fair to assume that inflation played a big role in that.
But in July, annual inflation was measured at just 3.2%, according to that month's Consumer Price Index. And while expenses such as groceries are still elevated, there's finally some relief in sight.
Source Fool.com
