Changing to the CPI-E may not necessarily increase the COLAs beneficiaries see - CNBC
The U.S. Bureau of Labor Statistics latest report states, “Over the last 12 months, the all items index increased 7.0 percent before seasonal adjustment; the largest 12-month increase since the period ending June 1982.” However, the Social Security cost-of-living adjustment (COLA) for 2022 was 5.9 percent causing some lawmakers and Social Security advocates to debate whether Social Security COLA accurately reflects the price increases seniors face. The government currently uses the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W, to calculate those annual adjustments; however, legislation proposed on Capitol Hill seeks to change that measurement to the Consumer Price Index for the Elderly, or CPI-E. Lorie Konish reports on how experts disagree on switching to CPI-E and how it might not help seniors. Read Ms. Konish’s article here…
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