Inflation sizzled in September — and Social Security benefits will get a boost

September consumer prices rose 3.7% from a year ago, driven largely by energy costs tied to the war with Iran. The Social Security Administration announced a 3.6% cost-of-living boost for next year, about $75 more per month for the average recipient. Wage growth of 3% trails inflation, eroding workers' buying power, and Federal Reserve officials worry repeated supply shocks could entrench inflation ahead of an October rate decision.