The Next Social Security COLA Is Now Estimated Below 3% Due to Cooling Inflation
By:
Mary Ellen Cagnassola
Mary Ellen Cagnassola
Reporter | Joined May 2024
Has also written:
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Editor:
Brad Tuttle
Rangely García for Money
Inflation hit its lowest levels in roughly two years last month — but Social Security recipients may have mixed feelings about how that news could affect their benefits.
As inflation continues to decline, so are expectations for next year’s Social Security cost-of-living-adjustment (COLA). The latest estimate from advocacy group Senior Citizens League predicts that Social Security recipients will get a 2.7% raise in 2024, the lowest increase in three years.
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What’s the Social Security COLA?
