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Social Security Cost-of-Living Adjustment Could Reach 10.5% in 2023
Based on consumer price index data for June, Social Security recipients could receive a record high cost-of-living adjustment in 2023 due to rising inflation. This would represent the first time an increase has reached double digits in four decades.
Inflation May Prompt Largest Social Security Cost-of-Living Increase in Decades
Based on Consumer Price Index data through March 2021, Social Security recipients could receive up to a 6.1 percent increase to their benefits next year due to the nation’s surging inflation rate.
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