Last week, the Bureau of Labor Statistics announced the March 2007 monthly Consumer Price Index (CPI), which is the metric used to calculate the annual cost-of-living adjustment (COLA) for military retired pay, VA disability compensation, survivor annuities, and Social Security.
The Consumer Price Index continued its recent trend and rose a full 1% above February's value, edging inflation into positive territory for the first time in FY2007. Overall, the inflation rate stands at 0.8%. Inflation was this low in only four out of the previous 30 years through March. Still, those four previous years ultimately provided COLAs that ranged from 1.4% to 3.6%.
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