#633 - Inflation could prompt largest Social Security cost-of-living adjustment in decades
News For Reasonable People
English - July 23, 2021 10:00 - 23 minutes - 16.6 MB - ★★★★★ - 7 ratingsInvesting Business Entrepreneurship san francisco trending news protests defund the police antifa blm seattle conservative republican journalism Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
The Social Security cost-of-living adjustment for 2022 could be 6.1% due to inflation, according to a new estimate.
That would be the biggest increase since 1983, according to non-partisan advocacy group The Senior Citizens League, which calculated the figure. It’s also a bump up from last month’s estimate, when the increase for next year was expected to be 5.3%.
The new estimate comes as the Consumer Price Index in June increased 5.4% from a year earlier, the largest gain since August 2008. Higher food and energy prices were among the culprits that helped push the inflation measure higher.
Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.
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