Social Security Benefits To Increase
This is good news for serious.
Americans who receive social security are about to get the biggest cost-of-living increase in over 40 years in an attempt to make up for the negative price hikes caused by inflation.
According to Fox, the Senior Citizens League has predicted that the increase could be as high as 8.9% due to the skyrocketing inflation which was recorded in March.
The Social Security change is determined based on the Consumer Price Index for Urban Wage Earners and Clerical Workers. This number jumped by 9.4% in just a single year.
Social Security analyst Mary Johnson explained, “I have never seen my estimates as high as what I’m seeing right now. The 8.9% would be the highest since 1981.“
It is important to remember the 8.9% is just a prediction and the Social Security Administration will make its official determination of the increase in October.
