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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.
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.
Although the CPI-W is reported monthly, only the trailing-12-month readings ending in July, August, and September (i.e., the third quarter) are factored into Social Security's COLA calculation. If ...
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 adjustments from both years reflected this circumstance, and 2021 and 2022 saw COLAs of 5.9% and 8.7%, respectively. Both were the largest since the early 1980s.
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 ...
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 and Clerical Workers (CPI-W ...
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 .
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