Those depending on Social Security payments are adversely affected by inflation because Social Security is not indexed for inflation.

Question

Quizplus · Accepted Answer

Social Security payments are actually indexed for inflation through the Cost of Living Adjustment (COLA) program, which adjusts payments annually based on changes in the Consumer Price Index. This means that Social Security beneficiaries receive increased payments to keep up with inflation.

Those Depending on Social Security Payments Are Adversely Affected by Inflation