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Soaring inflation prompts biggest Social Security cost-of-living boost since 1981 – 6 questions answered 

  • Written by John W. Diamond, Director of the Center for Public Finance at the Baker Institute, Rice University
Soaring inflation prompts biggest Social Security cost-of-living boost since 1981 – 6 questions answered Social Security benefits have lost their purchasing power as inflation has soared in 2022.Luis Alvarez/DigitalVision via Getty Images

Social Security is set to boost the benefits it provides retirees by 8.7%, the biggest cost-of-living adjustment since 1981. It comes as sky-high inflation continues to eat into incomes and savings.

The changes are...

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