Social Security recipients in the United States get an 8.7% cost-of-living increase, the highest in more than 40 years

The countries with the most inflation, according to IMF projections 1:26 New York (CNN Business) — Social Security recipients in the United States will receive an annual cost-of-living adjustment of 8.7% next year, the largest increase since 1981, the Social Security Administration announced Thursday. The measure will increase retirees’ monthly payments by $146 to an estimated average of $1,827 by 2023. The sharp increase, which follows a 5.9% adjustment for this year, is aimed at helping the nearly 70 million Social Security beneficiaries to face the high inflation that has plagued the United States since last year. “Will the COLA (Cost of Living Annual Adjustment) be enough to keep up with inflation? It’s too early to tell,” said Mary Johnson, policy analyst for Social Security and Medicare at the League of Senior Citizens. , an advocacy group. “It depends on what inflation does after October.” News in development.