Social Security recipients could see biggest cost-of-living raise since 1981
Updated On: Apr 19, 2022
Fox Business reports:
April 19, 2022
Social Security beneficiaries could see an 8.9% increase in their monthly checks next year.
Social Security recipients are on track to receive the biggest cost-of-living raise in four decades as sky-high inflation rapidly diminishes the buying power of retired Americans.
The Senior Citizens League, a nonpartisan group that focuses on issues relating to older Americans, estimated the adjustment could be as high as 8.9%, based on March inflation data, which showed that consumer prices soared 8.5% from the previous year, the fastest year-over-year jump since December 1981.