President Biden Inflation Could Create Social Security Increase for Seniors in 2022
Article Excerpt: "...Each year, Social Security recipients are eligible for a cost-of-living adjustment, or COLA. COLAs are calculated based on data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which measures fluctuations in the cost of common goods and services. When inflation strikes and the CPI-W rises, seniors on Social Security are given a raise. But when the CPI-W drops or stays flat, seniors can be denied a COLA..."
Resource: www.msn.com