This Year's Social Security Raise Failed to Keep Pace With Inflation. Here's How Much Money Seniors Have Lost

·3 min read
This Year's Social Security Raise Failed to Keep Pace With Inflation. Here's How Much Money Seniors Have Lost

When the Social Security Administration announced that benefits would be rising 5.9% in 2022, many seniors jumped for joy (or got as close to doing so as their bodies allowed for). Because inflation has soared so much, seniors on Social Security have lost buying this year despite a generous raise. Although Social Security benefits got a nice boost at the start of 2022, the non-partisan Senior Citizens League insists that seniors have by no means come out ahead.