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Although the CPI-W is reported monthly, just the trailing-12-month readings ending in the third quarter (July, August, and September) are factored into Social Security's COLA calculation. If the ...
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.
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 ...
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 ...
However, the CPI-W isn't designed with older adults' spending in mind. This particular index tracks costs relating to wage earners, which can often be quite different than expenses faced by retirees.
Based on August's CPI-W reading, the nonpartisan Senior Citizens League is projecting that 2025's Social Security COLA will amount to 2.5%. This is a notch below its previous 2.57% estimate .
Data source: Social Security Administration. As shown above, CPI-E inflation averaged 3.4% through the first eight months of 2024. That is three-tenths of a percent above the average CPI-W reading.
With another year in the books, Social Security retirees will look ahead to 2025. Retirees will receive a 2.5% cost-of-living adjustment (COLA), the smallest in four years because inflation ...