How Much Will Your Social Security Benefits Increase in 2023 Based on Current Inflation?
New August inflation data sent the market tumbling earlier this week, with the Dow Jones Industrial Average giving up an astonishing 1,250 points on Tuesday as inflation came in hotter than expected last month.
The inflation data doesn't just impact markets; it also plays a big role in determining how much Social Security benefits will increase next year. Due to surging inflation, retirees are poised to receive one of the largest increases to their 2023 benefits in decades.
While we don't know that exact amount yet, here is where things stand after recent August inflation data.
Source Fool.com
