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Social Security cost-of-living modification will be 5.9% in 2022

The Social Security cost-of-living modification will be 5.9% in 2022, the Social Security Administration revealed on Wednesday.

The 5.9% soda will be the most significant increase to Social Security recipients’ checks in about 40 years.

In 2021, the Social Security SODA POP was 1.3%.

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Social Security recipients will see the boosts in the regular monthly checks beginning in January. The approximated typical regular monthly advantage for all retired employees will increase to $1,657, up from $1,565.

Social Security’s advantages are changed each year utilizing a particular set of Consumer Price Index information, the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W.

New Consumer Price Index information launched on Wednesday revealed that customer costs for September increased a little more than anticipated.

This is a breaking newspaper article. Please inspect back for updates.

Blake

News and digital media editor, writer, and communications specialist. Passionate about social justice, equity, and wellness. Covering the news, viewing it differently.

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