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Source: Social Security Administration. Chart by author. For some perspective, the average COLA since 1975 is 3.75%. The highest-ever COLA was 14.3% in 1980. In 2010, 2011, and 2016, there were no ...
For instance, CPI-W inflation increased 2.5% in the third quarter last year, so Social Security payments increased 2.5% this year. That is the smallest COLA since 2021.
The SSA announces the COLA for the next year as soon as the September CPI-W figure is available. This year, that's Oct. 10. It'll post the news Thursday morning on the SSA website .
This is intended to help seniors and other Social Security recipients keep up with inflation and is based on Consumer Price Index (CPI) data from the third quarter of 2024. While the 2.5% COLA isn ...
The Social Security COLA calculation uses data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) released by the Bureau of Labor Statistics at a specific point in ...
The Social Security Administration (SSA) doles out about $1.5 trillion a year to 68 million Americans, 51 million of whom are retired workers. ... (CPI-W). This CPI-W number is calculated and ...
However, from December 1982 through December 2011, the all-items CPI-E rose at an annual average rate of 3.1 percent, compared with increases of 2.9 percent for both the CPI-U and CPI-W. [28] This suggests that the elderly have been losing purchasing power at the rate of roughly 0.2 (=3.1–2.9) percentage points per year.
Image source: Getty Images. Next year's raise may be considerably lower than 2024's. In 2024, Social Security recipients saw their benefits rise 3.2%. Next year's COLA is shaping up to be much ...
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