Expenses retirees face are climbing at a faster clip. - CNBC
Although all consumers are grappling with rising prices for older Americans living on a fixed budget, having to absorb those higher costs can hit harder. After analyzing the Consumer Price Index data from the Bureau of Labor Statistics, Mary Johnson, Social Security and Medicare policy analyst at the Senior Citizens League, found “with inflation rising so fast, what’s going on right now is an erosion in buying power.” Why is this happening? In Lorie Konish’s article for CNBC, she explains how the traditional cost-of-living adjustment based on the CPI-W does not represent the costs that affect retirees the most. Read Ms. Konish’s article here…
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