an In The Media Appearance
While cost-of-living increases protect older Americans against medium- and long-term effects of inflation, they do little to shield them from shorter-term price hikes, said Gary Engelhardt, an economics professor at Syracuse University whose work focuses on Social Security, pensions and aging.
“The sting of rising prices for older Americans is real,” he said. “Sudden increases in prices, like the ones we’ve experienced with gas, food and housing, will erode the purchasing power of those on fixed incomes until those benefits get adjusted.”
Read the full article, Fewer hot showers, less meat: How retirees on fixed incomes are dealing with inflation.