2022 Cola projected..

2022 Cola is projected at 4.7%.

https://www.myfederalretirement.com/2022-cola-estimate/ 

IMHO this is but a fraction of “real” inflation.  A 2×4 that is 8 feet long, used to build a home, went from $2.25 last year to $8.45 today, about 400 percent.  Gas has went way up, medicines are up, and, now there could be a beef/pork shortage.  Shortages mean higher prices.  

https://nymag.com/intelligencer/2021/06/beef-shortages-probably-coming-thanks-to-jbs-hack.html