How do cost-of-living adjustments stack up against the price of a can of cola?
Annual cost-of-living adjustments (COLA) – usually announced each October – typically bump monthly Social Security checks a little every year thanks to inflation. But is it enough to cover what we’re actually spending?
Some experts say yes – the rates are tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which reflects how much Americans spend on things like food, utilities, housing and gas each month. Others argue, however, that the expenditures of retirees (specifically healthcare and rising Medicare premiums) are different from those of people in the workforce.
Check out how annual COLAs have stacked up against the price of Coca-Cola through the years.