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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 ...
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 ...
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.
Most Americans cheer cooling inflation, but Social Security recipients worry COLA for 2024 could end up less than a third of 2023's 8.7% increase.
Inflation rocketed to 40-year highs in 2022 in the wake of a combination of pandemic stimulus payments, an increase in shopping and spending, and widespread supply chain problems.
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 ...
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...