COLA Count Turns Upward

The inflation index used to set the January 2003 retiree cost-of-living adjustment increased by 0.6 percent in March, bringing the COLA into positive territory, at 0.3 percent, for the first time since the current count began. The measure has risen for three straight months, finally offsetting the decreases posted during the first three months of the counting period. Unless inflation continues at a brisk pace for the remaining six months of the countdown, however, the January 2003 retiree COLA will be the smallest in many years.