It was announced on October 13, 2022 that the cost of living has increased by 8.7 percent. What does this mean for Social Security Benefits? Social security benefits increase and decrease based on the economy.…
The Cost-Of-Living Adjustment (COLA) was enacted in 1972 and is collected by the Bureau of Labor Statistics. The measurement used to do these calculations is known as the Consumer Price Index (CPI), which overlooks the…