Current Events in August 2022

Chrysler is recalling 99,186 model year 2022 Jeep Grand Cherokees and model year 2021-2022 Grand Cherokee Ls.

The tail light side marker assemblies may be damaged and not illuminate.

A tail light side marker that does not illuminate can reduce vehicle visibility to other drivers, increasing the risk of a crash.

What to do

Dealers will inspect and replace both body-mounted tail light assemblies -- as necessary -- free of charge.

Owner notification letters are expected to be mailed on September 16, 2022.

Owners may contact Chrysler customer service at (800) 853-1403. Chrysler's number for this recall is Z50.

American Airlines is trimming 31,000 flights out of its November schedule. According to both CNN and aviation analytics company Cirium, that accounts for 16% of the airlines’ total schedule. American couched the move as being "in line with our approach to network and schedule planning throughout the year."

Breaking down Cirium’s data, the two routes suffering the most cancellations are American’s Boston to Philadelphia route and Chicago O'Hare to Dallas-Fort Worth.

"Preliminary schedules are published 331 days in advance and then adjustments are made closer in based on the schedule we intend to operate," American told CNN in a statement. "We are now loading schedule adjustments approximately 100 days in advance, which is in line with how we adjusted our schedule in 2019 prior to the pandemic."

Do analysts expect more of this?

American Airlines isn’t the only U.S. carrier to have taken an ax to its schedule. Delta, Southwest, and United have all cut flights in the last few months, but a whopping 31,000 cancellations does seem a bit ominous. Should travelers worry? One analyst says his forecast for the airline industry is devoid of dark clouds that would pose any short-term threat.

“Operating challenges, particularly in Europe, the US and Canada, are causing the industry to operate less capacity than the level of passenger demand, supporting strong pricing,” Jonathan Root, Senior Vice President at Moody's Investors Service, told ConsumerAffairs.

Root pointed to staffing shortages as a key factor, not only with pilots and flight attendants but at airports and air traffic control operations. Root says that despite those issues, airlines are in good shape. However, there was one thing he pointed out that might not sit well with budget-conscious travelers.

“Operating less capacity than demand is allowing the airlines to raise ticket prices sufficiently to cover most if not all of their higher costs. We expect capacity to remain below demand even if the long wait times at certain airports this summer cause some travelers to skip additional trips in the near term,” Root said.

After going down during the early days of the pandemic, rents are rising again. Almost 60% of renters report that their rent has gone up during the last 12 months. One in three say the increase was by 10% or more.

A new survey, released by Freddie Mac, also found that only 38% of renters saw their wages increase during that time. A third of survey participants said their increase in pay won’t cover their increased rent. 

In more bad news for both tenants and landlords, nearly 20% of people who experienced a rent increase say they are now “extremely likely” to miss a payment.

“The surge in rents that took place over the last 12 months has created even greater housing uncertainty for the most vulnerable renters,” said Kevin Palmer, head of Freddie Mac Multifamily. “Our survey shows that the national housing affordability crisis is worsening and that inflation is a key driver.”

The cost of housing has steadily risen since the beginning of 2022. In its July Consumer Price Index (CPI), the Labor Department reported that the cost of shelter rose 0.6% from June to July and is up 5.7% year-over-year.

The growth in rents is slowing

Other sources suggest that rents are growing even faster, especially for single-family homes. CoreLogic puts the year-over-year single-family home rent at 13.2%, rising nearly as fast as purchase prices. But its report contains some good news for renters.

“While the annual growth in single-family rents is nearly double that of a year ago and is still near a record level, price growth began decelerating in June,” said Molly Boesel, principal economist at CoreLogic. “Nationwide, both year-over-year and month-over-month growth were slower in June than they were earlier this year, and roughly half of the largest U.S. metro areas experienced a slowdown in annual growth in June.”

The Freddie Mac survey tried to gauge the impact of rising prices on consumers' housing choices, and it included a set of questions that were specific to renters. The nationwide online survey was conducted this year from June 6 to June 10 among a representative sample of 2,000 American consumers aged 18 and older. 

Not surprisingly, nearly every household in the survey was impacted by inflation during the last 12 months, which made rent increases even more painful. Sixty-six percent of consumers in the survey singled out higher costs for groceries and household supplies as adding to their financial burdens. Among the other most cited cost increases were those for transportation, eating out, and utilities.

Renters make up most of the pool of potential homebuyers, and the survey suggests that this pool of people is quickly drying up. Nearly three-quarters of survey participants report that they have put off homebuying plans. About half said home prices have increased to the point that a suitable home is no longer affordable.

New cars are still in short supply, and the cost of buying one continues to rise. In its July Consumer Price Index (CPI), the U.S. government reported that the price of new cars rose by 0.6% from June to July and is up 10.4% over the last 12 months.

When you factor in that auto loan interest rates are going up, it could make affording a new car a challenge. But it turns out there are some lease deals in August that seem like they have time-traveled from before the pandemic.

Automotive publisher Edmunds.com has found several lease transactions with monthly payments that are $199 or less. Some require hefty down payments, but some don’t. Most are only available in a few states, so it’s important to read the fine print.

The 2022 Buick Encore is one of four SUVs that has a lease payment under $200. With $5,878 due at signing, the monthly payment is $179 for 24 months. Buick has another SUV in the low-payment category. The 2022 Encore GX requires slightly less at signing – $5,677 – but carries a higher monthly payment of $199.

For car shoppers with less money to put down, the 2022 Chevrolet Trax requires $3,049 upfront but has a longer term – 39 months. The monthly payment is $199.

Another lower down payment option is the Hyundai Venue. With $3,199 due at signing, the monthly payment is only $169 for 36 months.

Not the best fuel economy

There may be a good reason why manufacturers are offering generous terms amid a new car shortage. These SUVs don’t provide the best fuel economy at a time of high gas prices. They also aren’t the most popular models right now, and dealers may have plenty of them on hand.

Two sedans are part of the under-$200 club this month. The 2022 Hyundai Elantra offers excellent fuel economy and is priced at just over $21,000. With $3,199 due at signing, the monthly payment is an affordable $189 for 36 months.

The other sedan on the list is the $2022 Kia Forte, with an MSRP of $20,685. The Forte can be leased for $199 a month for 24 months at $2,799 due at signing.

Leasing can be an affordable way to drive a new car for two or three years, but consumers should keep one thing in mind: The residual value of the car – the price the car can be purchased at the end of the lease – is based on the current value of used cars.

It’s very likely that used car prices will be significantly less at the end of the lease, so it probably won’t be advantageous to purchase the vehicle. That means it will be important to keep the mileage under the limits to avoid extra charges when the vehicle is turned in.

A new study conducted by researchers from Edith Cowan University is shedding light on an important exercise topic. Their findings showed that consumers who consistently exercise for shorter periods of time may reap more health benefits than consumers who do longer workouts less frequently. 

“If you’re just going to the gym once a week, it’s not as effective as doing a little bit of exercise every day at home,” said researcher Ken Nosaka. “This research, together with our previous study, suggests the importance of accumulating a small amount of exercise a week, then just spending hours exercising once a week. 

Getting consistent with exercise

The researchers had 36 young adults involved in the study. They were broken up into three groups to do different variations of bicep curls. One group did just six muscle contractions one day a week, a second group did six muscle contractions five times per week, and the third group did 30 muscle contractions one day per week. When they did the exercise, the participants were hooked up to a machine that measures muscle strength and thickness. 

The participants who did six muscle contractions five days a week ultimately had the greatest health outcomes. The researchers found that these participants increased their muscle strength by 10% and their muscle thickness by about 6%. Participants who did all 30 muscle contractions in one day improved their muscle thickness by just under 6%, but their muscle strength stayed the same. The group who did six muscle contractions once a week showed no improvements in muscle strength or thickness. 

“People think they have to do a lengthy session of resistance training in the gym, but that’s not the case,” Nosaka said. “Just lowering a heavy dumbbell slowly once or six times a day is enough. We only used the bicep curl exercise in this study, but we believe this would be the case for other muscles also, at least to some extent.” 

Though these findings highlight the importance of consumers being consistent with their workouts, the researchers also explained that taking rest days can be just as important. 

“Muscle adaptations occur when we are resting; if someone was able to somehow train 24 hours a day, there would actually be no improvement at all,” Nosaka said. “Muscles need to rest to improve their strength and their muscle mass, but muscles appear to be stimulated more frequently. 

“If someone’s sick and can’t exercise for a week, that’s fine, but it is better to just return to regular exercise routine when you’re feeling better.” 

4moms, of Pittsburgh, Pa, is recalling about 2.3 million 4moms MamaRoo Baby Swings, versions 1.0 through 4.0, and RockaRoo Baby Rockers sold in the U.S. and Canada.

When the swing or rocker is not in use, the restraint straps can dangle below the seat. Non-occupant crawling infants could become tangled in the straps, posing a strangulation hazard.

The firm has received two reports of entanglement incidents involving infants who became caught in the strap under the unoccupied MamaRoo infant swing after they crawled under the seat. These incidents include a 10-month-old child who died from asphyxiation and a 10-month-old who suffered bruising to his neck before being rescued by a caregiver.

No incidents involving the RockaRoo have been reported.

The MamaRoo is a baby swing that offers multiple motions and speeds. Buttons on the base of the product control the motion, speed, and sound. The model number is located on the bottom of the unit.

This recall includes only MamaRoo models that use a 3-point harness: version 1.0 and 2.0 (model number 4M-005), version 3.0 (model number 1026), and version 4.0 (model number 1037). The MamaRoo model that uses a 5-point harness is not included in this recall.

The RockaRoo is a baby rocker with a front-to-back gliding motion. The base has an analog knob and power button to control the range of motion of the rocker. The model number 4M-012 is located on the bottom of the unit.

The swings and rockers were sold at BuyBuy Baby and Target stores nationwide and online at 4moms.com and Amazon from January 2010, through August 2022, for between $160 and $250.

What to do

Consumers with infants who can crawl should immediately stop using the recalled swings and rockers, place them in an area that crawling infants cannot access, and contact 4moms immediately to register for a free strap fastener that will prevent the straps from extending under the swing when not in use.

Consumers may contact 4moms toll-free at (877) 870-7390 from 8 a.m. to 5 p.m. (ET) Monday through Friday, by email at safetyandrecall@4moms.com, or online for more information.

4moms is contacting all known purchasers directly.

Parents have enough to deal with now that it's nearly time for kids to return to school. But the Federal Trade Commission (FTC) says there's one more thing that they should watch out for -- online school shopping scams.

In addition to the advice it recently passed out to college students, the agency says it has another list of recommendations that consumers should keep in mind when shopping for school supplies online. Here are the things officials say consumers should consider:

• Check refund and return policies, especially on sale or clearance items. When it comes to sale items, merchants frequently have tighter refund and return policies. However, what consumers might not be aware of is that dishonest sellers often use tricky disclosures and fine print to completely deny refund requests.

• Use a credit card for online purchases. The FTC says consumers should use credit cards when buying products online if possible. Officials note that these products offer the best protection against fraud, including the right to dispute charges if there are problems with your purchase.

• Always save your receipts or confirmation emails. In situations where something goes wrong, make sure you pull together receipts and order emails as a paper trail. “If something goes wrong, these will help you get your money back from the seller or file a dispute with your credit card company,” the FTC said.

• You don’t have to accept shipping delays. If you bought something online and never got it, notify the seller as soon as possible. If a seller hasn’t shipped your item within the timeframe they promised when you bought it, the law says you can cancel the order for a full refund.

• Look for pre-checked boxes. Pre-checked, opt-out boxes were a widely used trick at one time, but they’re now illegal. Nonetheless, scammers may still employ them and hope that you won’t notice that you’re agreeing to be billed later. “Uncheck the box if you don’t agree with what it says. If you want to change or cancel a subscription or automatic charges, sellers must give you an easy way to cancel,” the agency said.

Wireless companies spend lots of money on ads that urge consumers to switch providers. But a new study suggests that consumers find the process of purchasing a new phone or wireless plan less pleasant than in the past.

J.D. Power’s 2022 U.S. Wireless Purchase Experience Study found a number of reasons for this diminished satisfaction. Consumers who participated in the study and who purchased a wireless phone or switched to a new provider in the last six months said the transactions are taking longer to complete.

They also complain that they’re having to do much of the work themselves because of a decline in customer service. Ian Greenblatt, managing director at J.D. Power, says it might be a result of the upheaval in the job market caused by the COVID-19 pandemic.

“Staff retention constraints, shorter representative tenure, and less training are leading to a longer time to complete the purchase, more perceived effort from the customer, and ultimately, a decrease in satisfaction,” Greenblatt said. “As consumers increase their device usage and reliance, the purchase experience becomes that much more important. The study finds that respondents believe they’re paying more and receiving less.”

Happy T-Mobile customer

Among the big three wireless operators, T-Mobile was rated as the easiest to deal with by consumers posting their feedback at ConsumerAffairs. Jacqueline, of Virginia Beach, Va., recently told us about a good experience.

“I had Toure from customer care assist me today in transferring my phone from the Sprint network to the T-Mobile account,” Jacqueline wrote in a ConsumerAffairs review. “She went above and beyond on customer service. She followed through the entire process and got me where I needed to be. She was amazing and T-Mobile should be so grateful to have her on their team!”

Sammy, of Bloomfield, Colo., told us about a frustrating experience with Verizon when he switched from AT&T and tried to transfer four lines on his plan.

“Only three lines were transferred and they forgot to transfer my fourth line,” Sammy told us. “And when I called to [activate] that fourth line they keep telling me that they cannot verify my information.”

Virtual mobile network operators did better in the J.D. Power survey than the legacy carriers. While T-Mobile had a satisfaction score of 797, Cricket led mobile virtual network operators with a score of 821. Metro by T-Mobile ranked second, and Spectrum Mobile ranked third, with both earning satisfaction scores above 800.

What is true in one housing market isn’t necessarily true in another, especially when it comes to home values. Moody’s Analytics, in partnership with Fortune magazine, has analyzed the U.S. housing market and has projected which metro areas will lose value as the air goes out of the housing bubble and which metros might even gain value.

As mortgage rates spiked in the first half of 2022, home sales slowed since fewer people could afford the payments at record-high prices. The Moody's analysts have looked at housing markets coast-to-coast and have projected where falling sales are likely to affect prices the most.

After crunching the data, the researchers predict that home values will be flat between the fourth quarter of this year and the fourth quarter of 2023. That’s a huge slowdown from the nearly 20% annual increase that homes posted in the previous 12-month period.

Prices may rise and fall 

The analysis suggests that potential home buyers who are waiting for a significant drop in home prices may be disappointed. The largest declines will likely take place in the nation’s most expensive housing markets, which are mostly on both coasts.

The Villages, Fla., could see a 6.96% decline in home values, and Punta Gorda, Fla., could see home prices fall 6%. The Moody's analysis calls for a 5.57% reduction in Reno, Nev., a 5.5% drop in Honolulu, and a 5.52% decline in Spokane, Wash. 

For the moment at least, prices in the expensive markets of Austin and Las Vegas are holding steady, with the analysts saying prices could break either way in the months ahead.

On the flip side, 183 housing markets could actually see an increase in the average home price in the year ahead. Moody's suggests that prices could rise 4.12% in Albany, Ga., and New Bern, N.C. Prices are expected to rise by 3.84% in Augusta, Ga., 3.73% in Hartford, Conn., and 3.29%  in Casper, Wyo.

Hoping for a housing crash?

The prediction that home prices might not drop that much, and might even go up in some places, may be disappointing to people hoping for a more attractive entry point to the housing market. 

A recent ConsumerAffairs study found that 78% of consumers believe there will be a housing market “crash” and that many members of Gen Z are actively hoping for one.

The Moody's analysis suggests that there will likely be a market correction – and a mild one at that – rather than a crash. A housing crash is a sudden and steep decline in home values, often leading to economic ruin for many homeowners. A housing correction, on the other hand, is a slow and steady return of elevated home values back down to balanced levels.

With inflation shifting into overdrive during the second quarter of the year, consumers turned to credit cards and personal loans to help them get by. A new report suggests that lenders were happy to help.

TransUnion’s Q2 2022 Quarterly Credit Industry Insights Report shows that the number of consumers with credit cards and personal loans reached record highs, in part because lenders extended credit to more consumers in the subprime category.

Some personal finance experts might see that as a cause for concern in uncertain economic times, but Michele Raneri, vice president of U.S. research and consulting at TransUnion, says it’s not necessarily a red flag.

“Consumers are facing several challenges that are impacting their finances on a day-to-day basis, namely high inflation and rising interest rates,” Raneri said. “These challenges, though, are happening against a backdrop where employment opportunities are still plentiful and jobless levels remain low.”

Getting credit for the first time

Raneri says the fact that lenders are extending credit to more subprime borrowers – some of whom are getting credit for the first time – is actually a positive development. So far, she says the data doesn’t reveal any sign of trouble.

“While delinquencies generally rise after a period when more non-prime borrowers secure loans, the rates of delinquency remain mostly at or below pre-pandemic levels, particularly for cards and personal loans,” she noted. 

In the second quarter of the year, 161.6 million consumers had access to a credit card, up from 153.3 million a year earlier. Twenty-one million consumers had a personal loan during that period, an increase from 18.7 million in the second quarter of 2021.

The report shows that many of the new borrowers were among the youngest consumers. Loans to Gen Z consumers increased by 31.6% between the first quarter of 2021 and the first quarter of 2022. The subprime segment’s total balances grew by 51.7% year-over-year, which is the highest growth rate ever achieved. 

How to find the right loan

Consumers who are accessing credit for the first time should research both credit cards and personal loans before deciding which one meets their needs. Both are unsecured loans, but the interest rates can vary widely. The average interest rate on credit cards is currently around 20%, but it's much higher for consumers in the subprime category and those who are new to credit.

The interest rate on personal loans tends to be lower. The rate on personal loans could be as low as 6%, but it will be higher for consumers who are tapping into credit for the first time. Still, the rate on personal loans is usually lower than on credit cards.

ConsumerAffairs’ guide to “The Best Credit Cards” breaks down cards for different uses and different credit standings. There are also thousands of verified reviews.

Our guide to “The Best Personal Loans” provides hundreds of verified reviews about personal loan lenders and explains how they work. For example, personal loans are structured more like traditional loans than revolving credit, with set repayment terms.

A new study conducted by researchers from the University of Pennsylvania explored some of the risks associated with adolescents’ behavior patterns. According to their findings, being impulsive during the early adolescent years can lead to poorer behaviors down the road.

“Kids with impulse control problems are at risk for a variety of adverse outcomes, such as drug use, acting-out behavior, and antisocial behavior,” said researcher Dan Romer.

“What we’ve found is that you’ve got to start mitigating impulsivity before it starts influencing behaviors that lead to substance use and antisocial behavior disorders. Once adolescents are on a trajectory of engaging in those behaviors, it may become more difficult to prevent disorders later in adolescence than it is to treat impulsivity itself.”

Targeting impulsivity

For the study, the researchers analyzed data from nearly 365 kids enrolled in the Philadelphia Trajectory Study. Participants were between the ages of 10 and 12 when the study began. They were interviewed once per year for six years and then completed one final interview two years later. During the interviews, they answered questions primarily about their behaviors and their choices at each stage of adolescence. 

The study highlighted impulsivity in early adolescence as a marker of future behavior. When the study began, children who were the most impulsive were the most likely to experience changes to their personality in later adolescence, including antisocial behavior and alcohol use disorder.  

However, for participants who developed more impulsive traits later in adolescence, this behavioral shift wasn’t as likely. The researchers found that antisocial behavior became an important predictor of future behavioral outcomes. 

“It is also important to target antisocial behavior to interrupt the cascade that predicts both alcohol use disorder and antisocial personality disorder,” said researcher Ivy Defoe. “In fact, the study showed that increases in antisocial behavior in mid- to late-adolescence further predicted increases in impulsivity as well. This is consistent with labeling theory that suggests that individuals who show antisocial behavior are subsequently labeled as ‘antisocial’ or ‘rule-breakers,’ which causes them to further exhibit attributes that are associated with such behavior.” 

The researchers hope more work is done to better identify young people who may be struggling with their mental health to help prevent potentially harmful behaviors as they grow into adulthood. They recommend an increase in screenings for these conditions, as well as mindfulness interventions geared towards adolescents. 

Thanks to a new plan in the works by the Department of Transportation (DOT), it looks like wheelchair users might get the green light to bring their mobility devices onboard commercial airplanes. A recent feasibility study determined that there were no “formidable issues” preventing the installation of in-cabin wheelchair securement systems in airplanes.

 A DOT spokesperson said the only thing that requires additional testing is determining how a personal wheelchair would match up with the crashworthiness and other pertinent safety requirements of the Federal Aviation Administration (FAA). 

There are a considerable number of people who would be positively affected by this change. The recent Portrait of Travelers with Disabilities Mobility & Accessibility study found that among the 75% of respondents who had taken a leisure trip in the last 12 months, disabled travelers had taken an average of 3.4 trips during that time. That's higher than the average number of trips (3.0 trips) taken by nondisabled leisure travelers.

“No other form of transportation – trains, buses, boats – forces you to give up your mobility device when you board,”  U.S. Transportation Secretary Pete Buttigieg said. “The same ought to be true of airlines. So, in the months and years ahead, we plan to record a new rule that will allow passengers to stay in their personal wheelchairs when they fly. We know this won’t happen overnight, but it is a goal that we have to work to fulfill.”

Earlier this summer, the DOT launched other initiatives focused on disabled travelers. One of them is designed to modernize more than 900 transit stations across the country to make them fully accessible for passenger use; another would require single-aisle aircraft with at least 125 seats to have accessible toilets.

A new study conducted by researchers from North Carolina State University explored one of the telltale signs of cognitive decline in dogs. According to their findings, older dogs who develop hearing loss may be on the road to dementia. 

“In humans, we know that age-related hearing loss is estimated to affect one-third of people over age 65,” said researcher Natasha Olby. “We also know that the rate of cognitive decline is approximately 30-40% faster in people with age-related hearing loss and that hearing loss is a greater contributor to dementia risk than other factors such as hypertension or obesity. But we don’t understand where the same holds true for dogs.” 

Understanding dogs’ cognitive function 

The researchers performed cognitive and hearing assessments on nearly 40 older dogs and asked owners to answer questions about their pet’s quality of life and overall cognitive ability. 

Ultimately, the team found a link between dogs who were struggling with their hearing and a decline in cognitive function. The researchers explained that 50 decibels (dBs) is a figure for average hearing ability among dogs. Nineteen of the dogs in the study were able to hear at 50 dBs, but 12 of the dogs could only hear at 70 dBs, and another eight dogs could only hear sounds at 90 dBs. 

When comparing these results to the cognitive assessments, it was clear to the researchers that the dogs who struggled to hear were also struggling in other areas. Not only did their owners report lower scores related to companionship and vitality, but they noted that their pets were struggling with their usual commands and tasks. 

The researchers hope these findings encourage consumers to pay closer attention to their aging dogs since there may be ways to combat hearing loss. 

“Hearing loss is one of the biggest predictors of dementia in people,” said Olby. “Hearing loss also contributes to falls in elderly people, as sensory decline contributes to a loss in motor skills. So, the connection between physical and neurological decline is clear for humans.

“This study indicates that the same connection is at work in aging dogs. But since we can potentially treat hearing loss in dogs, we may be able to alleviate some of these other issues. By quantifying neurological and physiological changes in elderly dogs, we’re not only improving our ability to identify and treat these issues in our pets, we’re also creating a model for improving our understanding of the same issue in humans.” 

Consumers who enjoy Disney+ will soon have to pay a little more for the service.

In the company's Q2 earnings call, CEO Bob Chapek said Disney+ added 14.4 million new subscribers in the second quarter – a performance he called “excellent.” Now sitting pretty with more than 220 million subscribers on its books, the company has decided that Disney Plus Premium is worth another $3 per month.

Come December, subscribers will have to pony up $10.99 per month to keep using the premium version of the service. However, those who don't want to pay that much will have access to a new ad-supported tier that will be priced at $7.99 per month.

“With our new ad-supported Disney+ offering and an expanded lineup of plans across our entire streaming portfolio, we will be providing greater consumer choice at a variety of price points to cater to the diverse needs of our viewers and appeal to an even broader audience,” said Kareem Daniel, Chairman, Disney Media & Entertainment Distribution.

ConsumerAffairs found that Disney+ fans can still get a deal on their subscription if they're willing to pay for a year upfront. Those who go that route will pay $109.99 for their year of service as opposed to $131.88 if they paid a monthly rate.

What Disney+ plans to offer for the extra cost

While some might think that Disney+ is primarily aimed at children, Disney officials say that isn't the case. They point out that almost half of Disney+ subscribers are adults without kids.

With its ownership of ABC, ESPN, FX, Hulu, and National Geographic, the company has a lot of content to pick from. In fact, it claims that, collectively, it has access to 100,000 movie titles, TV episodes, original shows, sports, and live events.

Chapek said Disney+ also has more than 500 local original titles in various stages of development and production in the pipeline, and 180 of those titles are slated to premiere this fiscal year.

Seniors living on fixed incomes may be struggling with high inflation, but help could be on the way. The Senior Citizen’s League’s (TSCL) annual estimate for Social Security adjustments predicts that monthly benefits could rise to a near-record 9.6% next year.

The government adjusts Social Security benefit payments each year to account for inflation. With inflation running red hot in 2022,  TSCL predicts that we could see the largest cost of living adjustment (COLA) since 1981 next year.

The COLA is based on inflation readings by the Labor Department in July, August, and September. Even though some economists believe inflation peaked last month, when the Consumer Price Index (CPI) dipped to 8.5%, inflation is not expected to drop that much during this month and September.

The Social Security Administration will announce the increase in October, with the first payment reflecting the increase showing up in January 2023. Mary Johnson, policy analyst and editor of The Social Security and Medicare Advisor newsletter, estimates that payments could increase by as much as $159 a month.

"That’s really phenomenal," Johnson told NBC News. "Effectively, no one receiving Social Security at the moment will have received a COLA this high." 

A 9.6%  increase would follow last year’s 5.9% adjustment, which was the highest in decades. Because of low inflation, some years leading up to 2022’s adjustment saw no increase at all.

Medicare premiums are also likely to rise

Social Security recipients who are also on Medicare would likely not see the full amount of any benefit increase. The cost of Medicare premiums is deducted from Social Security payments and, because of inflation, those premiums are probably going to be more expensive in 2023.

Johnson believes even a 9.6% increase in benefits would probably not be enough for many seniors to keep up with the cost of living in a high inflationary environment. She cites a TSCL survey that found 37% of participants received low-income assistance last year.

A 2017 study by researchers at the Social Security Administration found that nearly 20% of Americans aged 65 and over received at least 90% of their total incomes from Social Security.