Inflation related COLAs hit retirement contribution, other tax limits

Inflation related COLAs hit retirement contribution, other tax limits

The Consumer Price Index's reading of inflation hit a 40-year high of 9.1% in June and has only come down slightly, to 8.2%, in the latest reading for September. This inflation trend has certainly been hard on pocketbooks, but there may be some positive impacts to be found in the fact that certain government benefits and many limits in the tax code are indexed to inflation.