So far, 2022 has brought the highest levels of inflation in decades. In April, the consumer price index (CPI) rose 8.3 percent from a year earlier and 0.3 percent from March.
Inflation has affected virtually all sectors of our economy. We've seen higher prices at the grocery store, in the housing market and for travel. If you can even find one, new cars' prices are going through the roof. The increase for Social Security benefits for 2022 reflected this with a cost-of-living adjustment (COLA) of 5.9 percent, the biggest since 1982. The COLA for 2023 is projected to be even bigger.
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Roger Wohlner
Roger is a financial writer who brings his extensive experience as a financial advisor to his writing. Fluent on a wide range of financial topics, his work has been featured in MarketWatch, TheStreet, Investopedia, Morningstar Magazine, GOBankingRates, US News & World Report, Yahoo! Finance, The Motley Fool and a number of other sites. Roger ghostwrites extensively for financial advisors, financial services providers and investment managers. In addition to his work as a financial writer, Roger has over 20 years of experience as a financial advisor. Roger earned his bachelor’s degree in finance from the University of Wisconsin-Oshkosh and his MBA from Marquette University. Check out Roger’s LinkedIn profile.
