Ask Terry Questions Higher costs for seniors

Higher costs for seniors

By Terry Savage on October 17, 2021 | Taxes & Economy

More a comment than a question. I heard you on WGN talking about increase in social security payments. I wanted to give you a recent example I found of prices going WAY up. I help a friend with her mom’s care. I help by buying things for her. One of those items is Boost Nutrional Drink. We’ve been buying 24-pack from Amazon for well over a year. Usual cost around $25-28 for 24 pack. Last order was in late August. Today I went to buy it and the cheapest was $41 with a week lead time. I found it at local Walgreens for $31 (shhhh, or they’ll jack their price too), but that’s an example of where seniors are going to get hit.

Terry Says

It is, for sure. But it is also a commentary on higher gasoline costs, impacting transport costs. No one under 55 remembers the inflationary cycle of the late 70s, where prices soared to an annual increase of 13% in the Consumer Price Index. I truly hope this doesn’t happen again — and doubt it will because the Fed will act quickly once they believe this is not “transitory” inflation — because the impact falls hardest on those living on a fixed income: Seniors!

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