The raise will impact Social Security recipients, military retirees and others whose retired pay is linked to the Consumer Price Index. The raise will show up in January paychecks.
The increases are calculated by comparing changes in average consumer prices for July, August and September to the same period last year.
The pay raise is slightly higher than the 1.3 percent projected by the Congressional Budget Office in early September but considerably lower than the 3.6 percent bump recipients enjoyed last year.
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