Soaring inflation prompts biggest Social Security cost-of-living boost since 1981 – 6 questions answered
- Written by John W. Diamond, Director of the Center for Public Finance at the Baker Institute, Rice University
Social Security benefits have lost their purchasing power as inflation has soared in 2022.Luis Alvarez/DigitalVision via Getty ImagesSocial Security is set to boost the benefits it provides retirees by 8.7%, the biggest cost-of-living adjustment since 1981. It comes as sky-high inflation continues to eat into incomes and savings.
The changes are...
