Effects of OASDI benefit increase, June 1978.

Soctal Securtty checks dehvered to beneflclarles m the first week of July 1978 reflected the fourth automattc cost-of-ltvmg tncrease tn cash benefits under leglslatlon enacted tn 1972 and 1973 The 6 5-percent tncrease, which became effectwe to June, apphed to benefits for all persons on the social security benefit rolls at the end of Mdy, except those recetvmg benefits under the “spectal mmm~m PIA” prowlon Automatic tncreases are tmtmted whenever the Consumer Price Index (CPI) of the Bureau of Labor Statlstics for the first calendar quarter of a year exceeds by at least 3 percent the CPI for the base quarter, whtch LS either the first calendar quarter of the precedmg year or the quarter tn which an tncrease was legislated by Congress In this case, the base quarter was the ftrst quarter of 1977 The stze of the beneftt tncrease ts determmed by the actual percentage rise of the CPI durtng the quarters measured