Inflation Woes Continue for Seniors: 2024 Social Security COLA Falls Short and 2025 Outlook Uncertain
Chicago, IL – The Social Security cost-of-living adjustment (COLA) is crucial for retirees to keep up with the increasing costs caused by inflation. Unfortunately, 2024 is shaping up to be another disappointing year for seniors in the United States. Research from The Senior Citizens League shows that retirees have seen a significant decrease in the buying power of their Social Security benefits from 2000 to 2023. Despite a slight improvement in 2022 due to an …