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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.
So the 2.5% COLA seniors got this month was calculated based on inflation from July through September of 2024. The Social Security Administration made its official 2025 COLA announcement in October.
COLA. Year. COLA. 1975. 8%. 1992. 3%. 2009. 0%. 1976. ... to Q3 are watched closely to get a sense of what the COLA might be. Based on the latest data, The Senior Citizens League projects that the ...
Driven by stagflation and the energy crisis, 1980 was the single most impacted year, and due to double-digit inflation rates, it saw a record-breaking 14.3% COLA increase.
Last month, the Social Security Administration announced that beneficiaries will receive a 2.5% cost-of-living adjustment (COLA) in 2025. In fact, a recent survey conducted by The Motley Fool ...
In the United States, the index affects the income of almost 80 million people as a result of statutory action: 47.8 million Social Security beneficiaries, about 4.1 million military and Federal civil service retirees and survivors, and about 22.4 million food stamp recipients. Changes in the CPI also affect the cost of lunches for the 26.7 ...
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.
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 ...