There's a real likelihood that many Americans will lose their cars b/c they can't afford to fix and insure them anymore.

Car maintenance cost +10.2% in past yr
Car/truck insurance +18.9% in past yr https://t.co/iGbvLLEeLB

— Heather Long (@byHeatherLong) October 12, 2023

The big news: Social Security will increase 3.2% in 2024 for the "cost of living" adjustment. This is the smallest increase since 2021.

More than 70 million Americans receive SS payments. pic.twitter.com/NUIj3Dd6OB

— Heather Long (@byHeatherLong) October 12, 2023

+3.7% inflation in September (for the past 12 months)

You can really see how the gas price spike drove up inflation in August and September.

"Shelter" (aka rent) also continues to be a major inflation contributor.

Americans are feeling this strain. pic.twitter.com/YnjLDG050c

— Heather Long (@byHeatherLong) October 12, 2023

[Inflation at these levels for an extended period of time has real-world consequences. It’s not just the erosion of buying power alone, but also the way in which it puts middle-class standards of living out of reach for the working classes. — Ed]