Social Security cost-of-living hikes are too low, report says

11/4/2011 | Wall Street Journal, The

Retirees are seeing their Social Security benefits squeezed because the government isn't adjusting them enough for inflation, a report by the Federal Reserve Bank of Chicago says. The government adjusts benefits based on the consumer price index, but the Fed report found that the range of goods and services retirees spend their money on is far narrower, and the inflation rate on those items, such as health care, is higher.

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