Social Security COLA 2023 release, live online: estimate, adjustment and

How is the Social Security COLA calculated?

The Social Security Administration calculates the Cost-of-living adjustment (COLA) utilized to advantages annually by evaluating the Consumer Price Index for Urban Wage Earners and Clerical Workers from quarter 3 (July, August, September) from the present yr to the earlier. 

The CPI-W knowledge for July and August is obtainable and the present common sits at 291. The common for Q3 final yr was 268.421. This implies that if the COLA was decided by the numbers from July and August, seniors would see an 8.4 % increase of their cost quantities. However, if worth will increase in September weren’t as massive as these seen earlier this summer time, this quantity might shrink. 

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