2023 Inflation: Still High, But Going Down— 2024 COLA Will Not Match 2023
The 2023 inflation rate will impact next year’s COLA and TSP balances. Here is the latest information on 2023 inflation and the 2024 COLA.
The 2023 inflation rate will impact next year’s COLA and TSP balances. Here is the latest information on 2023 inflation and the 2024 COLA.
Inflation has been rising as have interest rates. How can this impact your retirement?
Legislation has been introduced to set the 2024 federal pay raise for federal employees at 8.7%.
Changes on tap for 2023 offer federal employees an incentive to save more towards retirement.
The 2022 inflation rate was 6.5% at the end of the year. The COLA for 2023 was 8.7%. What is likely to happen with the 2024 COLA?
While the anticipated 2023 federal pay raise is 4.6%, on average, inflation has slowed to an annual increase of 7.1%.
The 2022 FEVS results indicate that federal employees are becoming increasingly dissatisfied with their pay.
The financial impact of the Postal Service Reform Act skewed the 2022 USPS financial results. Inflation also continues to weigh heavily on the agency.
Inflation is still with us in 2022. The latest inflation figures are no longer at a 40-year high, but consumers are still feeling pinched.
Inflation has been rising fast, and the 2023 COLA was just announced. Even with a projected 2023 pay raise of 4.6%, purchasing power is declining fast.