For federal retirees, COLA is not a retirement panacea for inflation
Article Excerpt: "...“The reality is that CPI-W number that is released by the BLS doesn’t include everything we spend our money on,” Kowalik said in an interview. As cost-of-living is relative to the economy, so too are benefits relative to expenses for retirees. A study from The Senior Citizens League found that since 2000, COLAs have increased Social Security benefits by a total of 64%, yet typical senior expenses through March 2022 more than doubled, at 130%...."
Resource: www.federaltimes.com