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The COLA for 2022 was 5.9%. The official 2024 cost-of-living adjustment is expected to be announced on Oct. 12 , when the September inflation numbers come out.
This wasn't just an arbitrary date I picked to calculate a long-term average. 1975 was the first year when Social Security COLAs were based on Consumer Price Index (CPI) inflation data.
As expected, Social Security recipients will be getting a 3.2% cost-of-living adjustment (COLA) in 2024 -- the lowest COLA since 2021, and well below this year's 8.7% adjustment. The Social ...
Social Security beneficiaries can thank the soaring 2022 inflation rate for their bigger payments this year. A COLA of 3.0% would raise the current average monthly benefit of $1,787.00 by about ...
Unless the U.S. government's September 2023 inflation report drops some kind of unforeseen surprise, you can expect the 2024 Social Security cost-of-living adjustment (COLA) to be somewhere in the...
Social Security beneficiaries will see a 3.2% COLA adjustment in 2024, compared with the past 2022 and 2023 COLA adjustments of 8.7% and 3.2%, respectively. With inflation starting to level out ...
A natural way to impact Social Security.
The U.S. inflation rate has seen a sharp decline over the past year, falling to 3% in July 2023 after pushing above 9% only 13 months earlier. If inflation remains at 3% or lower during the rest of...