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Naxios today. It's Thursday, October 13th. I'm Nyla Boohoo. Here's what you need to know today.

Detroit's $7 million investment in police surveillance. Plus another sign of the pandemic's effect on

high school seniors. But first, a big boost to social security benefits is today's one big thing.

September inflation numbers are out later this morning. While everyone has been watching

inflation closely, today's consumer price index is especially important for millions of retirees

and others who depend on social security benefits. That's because the annual cost of living

adjustment for next year is based on today's monthly number. And given that we've already seen

inflation increase 8.2% over the past year. It's likely we'll see one of the biggest increases in

social security checks in more than 40 years. Axios's chief economic correspondent Neil Irwin is

here with how this affects all of us. Hey, Neil. Hi Nyla, thanks for having me. Let's start basic

here. Who gets social security? The biggest categories are retirees, people who work for a long time

and now or not. And also people on disability, people who can't work because of some disability.

And those people are in line for a significant bump next year. So how does a social security

administration figure out what the cost of living adjustment should be? So it's a little bit

technical, but it's based on the third quarter average inflation over the previous year. So

the third quarter is July, August, September based on the consumer price index. So not exactly the

same CPI we use in the headlines, but that doesn't matter. The key is once we get this number at

830 AM, we'll know what that adjustment looks like for 2023. Starting in January, those checks

...