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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.
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 ...
Since 2002, between 80% and 90% of respondents, including 88% in April 2024, have noted that their Social Security payout is, to some degree, needed to make ends meet.
The CPI-W has risen about 2.7% in the first 11 months of 2024, compared to a 3.3% increase in all of 2023. While many think inflation will continue to come down toward the Federal Reserve's ...
When calculating the cost-of-living adjustment, the Social Security Administration (SSA) uses only the trailing 12-month readings ending in July, August, and September (the third quarter). If the ...
Every October, the Social Security Administration (SSA) announces how much more seniors will receive from the government program the next year due to inflation. The COLA for 2025 will be 2.5% ...
Importantly, the CPI-E increased 3% during the third quarter of 2024, outpacing the CPI-W by a half-percentage point. In other words, Social Security recipients would have recieved a 3% COLA had ...
Image source: Getty Images. Social Security's 2025 COLA: A prediction. The COLA is based on third-quarter inflation data-- specifically, changes in the Consumer Price Index for Urban Wage Earners ...