Paul Solman:

Unless the inflation rate rises above 8.7 percent next year, jacking up the CPI-W, that is.

Today's increase will go to more than 70 million Americans, including 52 million above age 65, an average increase of around $1,700 a year, more than $4,000 for those getting Social Security's maximum by waiting until age 70.

And then there's a reduction in the Medicare premium too. And that, of course, comes out of your Social Security check if you're taking Social Security.

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