Rochester School Board Salaries Will More Than Double kroc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kroc.com Daily Mail and Mail on Sunday newspapers.
Used Car Prices Are Up 21% From a Year Ago
12 May 2021
The price of used cars jumped much higher in April, data from the Department of Labor’s Consumer Price Index showed Wednesday.
Used car prices rose by 10 percent compared with March. Compared with a year ago, used car prices were up 21 percent.
The monthly gain is the biggest ever recorded. The prior record was set in February of 1969, when prices rose 7.2 percent.
The year-over-year gain is the highest since December 1981. The record gain was 32 percent, hit in 1975.
The Labor Department said the unusual jump in used car prices was responsible for about a third of the overall increase in the Consumer Price Index, which rose a stronger than expected 0.8 percent in April.
SOCIAL SECURITY: Benefits to increase in 2021
By Amy L. Long Social Security District Manager, Terre Haute Dec 16, 2020
Dec 16, 2020
Nearly 70 million Americans will see a 1.3 percent increase in their Social Security benefits and SSI payments in 2021. Federal benefit rates increase when the cost-of-living rises, as measured by the Department of Laborâs Consumer Price Index (CPI-W).
The CPI-W rises when inflation increases, leading to a higher cost-of-living. This change means prices for goods and services, on average, are a little more expensive, so the COLA helps to offset these costs.
January 2021 marks other changes that will happen based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax in 2021 will be higher. The retirement earnings test exempt amount will also change in 2021. You can read our press release for more information at www.ssa.gov/news/press/fact