Social Security recipients are on track to receive a cost-of-living adjustment next year that is bigger than previously expected after inflation accelerated for the third month in a row. The Senior Citizens League , a nonpartisan group that focuses on issues relating to older Americans, estimated the adjustment could be about 3%, based on March inflation data, which showed the consumer price index climbed 0.4% from the previous month and is up 3.5% from the same time last year.
Should Social Security beneficiaries see a 3% increase in their monthly checks next year, it would mark a steep decline from both 2023, when recipients saw an 8.7% bump and from 2024, when benefits rose by 3.2%. However, it remains higher than the 2.6% average increase recorded over the past two decades. An increase of that magnitude would raise the average retiree benefit of $1,907 by about $57.21 per month.
Social Security Cost-Of-Living Adjustment Inflation Senior Citizens League CPI-W
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