This year’s inflation uptick will result in the biggest hike in Social Security benefits since 2023, according to estimates, with the official number due next month.
The annual cost-of-living adjustment (COLA) is based on a subset of the consumer price index, known as the Consumer Price Index for Urban Wage Earners and Clerical Workers. By extrapolating from recent months’ data and projecting where the September print will land when it comes out on Oct. 14, advocacy groups already have a good idea of what to expect.
