The next Social Security raise may hit a 40-year record. But will it be enough?

Consumer prices soared in June and July at an annual rate of 5.4, the highest since 2008. Steeper prices for gas, food, cars and countless other things are squeezing Americans, especially older ones with fixed, often modest incomes.

But there’s a bright side: The spike in inflation could provide seniors next year with their biggest Social Security boost in almost four decades. In fact, advocates just raised their…