{"id":49100,"date":"2022-06-13T19:11:09","date_gmt":"2022-06-13T19:11:09","guid":{"rendered":"https:\/\/harchi90.com\/inflation-could-mean-highest-social-security-cost-of-living-adjustment-since-1981\/"},"modified":"2022-06-13T19:11:09","modified_gmt":"2022-06-13T19:11:09","slug":"inflation-could-mean-highest-social-security-cost-of-living-adjustment-since-1981","status":"publish","type":"post","link":"https:\/\/harchi90.com\/inflation-could-mean-highest-social-security-cost-of-living-adjustment-since-1981\/","title":{"rendered":"Inflation could mean highest Social Security cost-of-living adjustment since 1981"},"content":{"rendered":"
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Bank of America Securities head of US equity and quantitative strategy Savita Subramanian details which stocks are helped, or hurt, by inflation.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Social Security recipients<\/u> are on track to receive the biggest cost-of-living raise in four decades as white-hot inflation rapidly shrinks the buying power of retired Americans.<\/p>\n
The Senior Citizens League, a nonpartisan group that focuses on issues relating to older Americans, estimated the adjustment could be as high as 8.6%, based on May inflation data, which showed that consumer prices soared 8.6% from the previous year, the fastest year -over-year jump since December 1981.<\/p>\n
‘UGLY’ INFLATION REPORT COULD PUT FED RATE HIKE OF 75-BASIS POINTS ON THE TABLE<\/u><\/strong><\/p>\n
The annual Social Security change is calculated based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, or the CPI-W, which jumped 8.6% over the past year. <\/p>\n
Should Social Security beneficiaries see an 8.6% increase to their monthly checks next year, it would mark the steepest annual adjustment since 1981, when recipients saw an 11.2% bump. The COLA prediction for 2023 from the Senior Citizens League previously is unchanged from April. <\/p>\n