May 11 is a big and important day for the low-income and fixed-income beneficiaries of Social Security, retirement disability, SSDI survivors, SSI VA, and RRB. I have all the of details and everything you need to know right here on this topic. All right, So yet again, we have another very important month upon us.
There are a lot of key dates that we need to watch very closely this month. However, in this topic, I do specifically want to focus on May 11 and why this is a very important day that we need to watch very closely as it will impact the low income and of course, all those fixed income beneficiaries I mentioned at the beginning of the topic and ultimately could result in even more money in your bank account, in your pocket, on your Direct Express card, in your mailbox, wherever you happen to receive money. Therefore, that’s a pretty good thing. And like I say in all my topics, I want to watch everything closely and make sure that I’m helping you get as much money, and benefits and take advantage of programs in all the topics.
I am your one and only daily advocate, and I am very much dedicated to you and the community to continue doing all the research and to breaking it all down into these short topics so that you can stay updated every single day with all of these announcements and everything that’s going on right now during this very busy time.
And I’ll continue to be here for you right by your side every single day as that is my commitment. All right, So like I said, there are multiple different key dates that are coming up this month that we need to watch very closely.
Just like every month that pretty much comes up. There’s a lot of key dates coming out, but this one, for some weird reason, there are multiple key dates this month alone. So I want to lay these out for you. Well, at least not all of them. But I do want to talk about May 11 on this topic because there’s going to be another key date that we need to watch.
And like I said, this one will directly impact the low income and of course, fixed income as a result of this information coming out on May 11 will also impact, like I said, all these groups, as well as could possibly result in more money in your pocket going forward. Again, very important stuff right here. Right, All right So let’s talk about a few things that are going on right now.
As we do understand, prices continue to rise on literally everything going on right now. As we’ve been talking about here on the channel for a while now. We’ve been asking Congress, the administration, we’ve been asking basically anybody right now for a highly focused stimulus check, and we’re going to continue on that effort because we’re never going to get anywhere if we just all of a sudden throw in the towel and say, no, we’re done. No, I don’t really operate like that. If you’ve been around for a while, you know that I don’t operate that way.
I’m not throwing in the towel anytime soon. We got to get more money for everybody here in the community. So as a result of that, the information that may be coming out here on May 11 could actually prompt additional money or benefits going forward. So let’s talk about what’s going on here. So May 11 is going to be the monthly announcement.
This announcement comes out once per month and May 11 is the big day. All right. So here’s what it comes down to. The CPI Consumer Price Index will be released on May 11 for the prior month, the month of April. Now, remember, in March, the CPI came out on April 12 and it came in at 8.5%.
This means that inflation year over year was up 8.5%. And on a month-over-month basis, inflation was up 1.2% just in the last reading. That came out on April 12 from the prior month, which was March. So now we’re going to be getting April’s number on May 11. Again, very important.
Now, here’s what I’ve been finding. According to the preliminary estimates by economists, analysts, and people that are watching this stuff very closely, they’re anticipating a number anywhere between the range. Again, I’ve seen multiple numbers. So I’m going to give you a range here because these are the ranges that I’ve seen 8.9% to 9.3% is the vast majority of where these estimates are coming in. Again, massive.
But why do we care about this and why is this very important? Because here’s the thing. If this number is still moving higher, that means we haven’t peaked out yet, right? If it continues to move higher, that means we haven’t plateaued. We have not hit the summit of the mountain yet.
We’re still moving up the one side, right? We’re still ascending. We have not reached the peak and we’re not descending the other side yet. Therefore, this could actually result in inflation continuing to rise for many, many more months going forward again, left to watch it, to see what the Federal Reserve does going forward and how aggressively they raise interest rates. But again, this is kind of a twofold effect here.
Now let me lay this out for you. Number one, of course, we all know that the costs, the CPI, the Consumer Price Index, the inflation data that comes out directly relates to your annual cost of living adjustment. But again, that’s coming next year. Right? Now, here’s the thing.
If we are still going up the one side of the mountain, if we are still ascending the mountain and we have not plateaued at the peak yet, in other words, inflation is still moving higher. The timing on the peak of inflation could be perfectly timed right during those three months period that we need to grab for the data numbers for actually calculating the cost of living adjustment. Right. July, August, and September. We may be peaking sometime right around there, provided this next number that comes out on May 11 is still higher than the 8.5%, which according to the estimates, we’re going to be significantly higher than that.
So that may be a good thing. Again, kind of like not really a good thing, but maybe a good thing in the sense of getting the maximum amount of raised to your monthly benefits going forward in 2023 as a result of the cost of living adjustment based on that inflation data out of July, August and September. All right, so that is the first effect of basically a two fold effect, like I said a second ago. So that is basically like fold number one. Fold Number two is this if inflation continues to rise at this rapidly rising pace that it is right now, here’s the thing. If we continue to see this, as I’ve mentioned in so many previous topics and as I’ve been seeing in so many different reports here over the last how long has it been? Many, many months now, honestly, I don’t know how many months it’s been now that I’ve been seeing this basically since the beginning of the year. Let’s just say that much. So probably four months or more now I’ve been seeing all these reports coming out saying that, of course, inflation is really hitting home for the low income and the fixed income as a result of that, over the last week or so, I’ve seen multiple reports coming out literally every single day where food banks all across the country right now are seeing this huge influx of more people coming in because prices are up on everything.
Therefore, money is being allocated toward rent and toward utilities, toward phone bills, gas in the car, things like this. And unfortunately, many people are sacrificing enough food on the table, Okay. So what does all this translate into and how does this get more money in our pocket? Here’s the thing.
We’ve been calling on Congress and the administration for a highly focused stimulus check. Right? Well, here’s the thing. If inflation continues to rise very rapidly, at what point do they finally throw in the towel. Of course, we’re not throwing in the towel.
We’re going to let them throw in the towel first. And we’re going to say, at what point are they going to finally reach a number of critical mass? And they say, okay, this is enough, fine enough. Inflation is running way too hot right now. We’ve got to send out some type of financial relief for the low income and the fixed income.
Right. In fact, I’m going to throw this out there as well. Now, again, I know that I get a little bit of pushback on this when I mentioned this one specific program here in the topics, but I’m going to throw it out there for a quick example. Anyway, the child tax credit payments, those were the payments that went out every single month over month through the second half of 2021. Here’s the thing.
I’ve seen multiple reports coming out saying a lot of these 36 to 38 million families and individuals who received those checks from last year are having a really hard time right now making ends meet because of inflation. Well, my rebuttal to that is, excuse me, what about the elderly? What about people with disabilities? What about fixed income, beneficiaries of Social Security, SSDI, retirement survivors, SSI, VA, RRB? What about all these people?
Maybe they don’t qualify for the child tax credit because maybe they don’t have kids under the age 18, right. 17 or younger. So what about all these individuals? They’re probably in the same situation, right? Well, they had the same response last year when they implemented the advance on the child tax credit payments.
So now here we are nearly well, it was actually more than a year later after they approved those checks last year. And again, like I said, my rebuttal to back to them would be, what about all these people living on a fixed income? Can we maybe get some kind of monthly checks cooking for all these people, too? So anyway, there’s a lot of ground that we can stand on here and a lot of different aspects that are going on right now. But either way, it’s not that many more days here until we get this next number.
And this is going to be very important going forward. If it inches higher, Yeah. That just means that inflation has not slowed down and it means it’s continuing to rage on. And at what point will it actually peak?
Well, that’s to be determined in the future at some point, which we won’t know until only time will tell, Right. Anyway, this is a very big and important day. And again, at what point will they actually come forward and announce something further? Again, only time will tell on that one.
But again, this is going to be a major, major report here coming out. And we’ll see as this is going to indicate some major things going forward. Anyway, as I do get more information of course I’ll be right back here for you breaking it all down and helping you out in any way that I possibly can. see you soon on next topic bye take care.