This is how much the average Social Security check is likely to rise next year

If you're on Social Security, there's good news and some bad news in Uncle Sam's latest official inflation report on Tuesday. The good news is that you are well on your way for the largest annual cost of living adjustment for the next year in over a decade. Based on US Department of Labor consumer price data for August, Social Security is on track to hike benefits by 5.9% for 2022 when it makes the official announcement next month.

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