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Since 1975, the Social Security COLA has been zero in three different years. (Note: Even in an deflationary environment, the COLA cannot be negative.) It has reached double digits twice, with a ...
The 77% adjustment matched the overall increase in prices of goods and services over the previous 10 years. Congress authorized another Social Security benefits increase of 12.5% two years later.
Image source: Getty Images. Cost-of-living adjustments (COLAs) through the years. Between 1975 and 2023, Social Security's COLAs averaged 3.8%. Of course, that's just the average.
Unfortunately, there have been a few years without an increase in the CPI-W, so there hasn’t been a cost-of-living increase in COLA for Social Security benefits. Since 1975, this has only ...
For the last 50 years, COLA increases have been determined by the CPI-W inflation rate. Previously, increases to benefits were decided by new legislation. The chart below shows what COLAs have ...
On Oct. 13, 2022, the Social Security Administration announced that the annual cost-of-living adjustment for Social Security benefits in 2023 would be 8.7%. While on the surface it may seem like...
Source: Social Security Administration. Since 2014, the average COLA has landed at 2.6%. In some ways, it's a good thing that these adjustments are much lower than they were decades ago.
The COVID-19 pandemic led to the largest year-over-year increase in U.S. money supply, which in turn sent the prevailing rate of inflation soaring to a four-decade high. Following a decade of ...