The CPI does not include income or Social Security ... Even some economists at the Federal Reserve choose to leave them out of the equation to come up with a more constituent view on price inflation.

The Social Security Administration's website reveals how a specific measure of CPI can impact these adjustments. "According to the formula, COLAs are based on increases in the Consumer Price Index ...

If you receive Social Security benefits, your payments are getting bigger this year. That’s because you’re getting a Cost of Living Adjustment or COLA. COLAs happen most years, and they are designed ...

Since 1975, the COLA has been based on the previous year’s consumer-price index for Urban Wage Earners (CPI-W). CPI-W reflects spending that a worker would face, such as expenses for food ...