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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.
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 ...
By now, all seniors on Social Security should have gotten their first checks for 2025. With the latest 2.5% cost-of-living adjustment (COLA) in effect, the average benefit has climbed to $1,976 ...
On Oct. 10, following the release of the final puzzle piece needed to calculate Social Security's 2025 COLA (the September inflation report), the SSA announced that beneficiaries would see their ...
For instance, the CPI-W increased 3.2% in the third quarter of 2023, so Social Security recipients got a 3.2% COLA in 2024. The Labor Department will publish September CPI-W data on Thursday, Oct ...
In fact, next year's 2.5% bump is higher than the 2010's average COLA of 1.4%, and is similar to the average since 1983 (after the soaring inflation of the preceding decade). What it means for ...
The Social Security program has existed since 1935, but COLAs were not introduced until the mid-1970s. Back then, the adjustments were much larger than they are now. Between 1975 and 1982, COLAs ...
The annual Social Security cost-of-living adjustment, or COLA, is based on third-quarter inflation data, so it was officially announced in October when the last of the official CPI data from the ...