U.S. Social Security and Supplemental Security Income benefits will rise by 5.9% in 2022, the largest bump since 1982, the Social Security Administration said Wednesday.More than 64 million American retirees collecting benefits will receive the increased payments starting in January to compensate for the rise in the cost of living, the administration said.The higher monthly payments come as consumer prices in the U.S. continue to rise steadily. Prices paid by U.S. consumers rose 5.4% in September from a year earlier, the largest annual gain since 2008. The CPI for urban wage earners and clerical workers, used to calculate cost-of-living adjustments, rose 5.9% from a year earlier.
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