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The amount of the raise passed along to beneficiaries equates to the year-over-year percentage difference in average Q3 CPI-W readings, rounded to the nearest tenth of a percent. US Inflation Rate ...
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 ...
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 ...
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 ...
Social Security's COLA represents the year-over-year percentage difference in average Q3 CPI-W readings, rounded to the nearest tenth of a percent. US Inflation Rate Chart
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 ...
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.