For instance, two of the most important spending categories for retired workers are housing and medical care. A December 2011 comparison between the CPI-W and CPI-U by the BLS showed that the CPI-W pretty substantially underweights shelter and medical care costs in its formula. Meanwhile, less meaningful expenses to seniors, such as transportation, apparel, and education, are given added weight in the index. This means the purchasing power of Social Security income is liable to keep declining over time. The $16,728 Social Security bonus most retirees completely overlook

Source: Daily Sun September 26, 2021 10:07 UTC