Before you get too excited, remember this
Of course, Social Security recipients, or should I say more specifically aged beneficiaries, aren't going to want to break out the champagne just yet. That's because the CPI-W has a natural flaw, which results in seniors losing purchasing power over time on their Social Security income.
According to a report from The Senior Citizens League, the purchasing power of Social Security dollars has declined by an almost jaw-dropping 34% since 2000.
Put another way, what $100 worth of Social Security benefits could buy 18 years ago can now only buy $66 worth of those same goods. Inflation (i.e., the rising price of goods and services) has eaten the rest.
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