Here’s how much the value of your Social Security check is likely to go up next year

If you’re retired or just about to retire, next year’s Social Security checks are likely to see one of the biggest bumps on record as a result of surging consumer prices. The higher payments will be welcome news for retirees, who have seen their household finances squeezed so far this year as a result of rocketing inflation and turmoil in the financial markets. The consumer-price index is up an annual 8.6% through May, way ahead of the 5.9% annual inflation adjustment handed out to Social Security beneficiaries in January.
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