Social Security Report

COLA Expectations Must be Tempered for 2024 - AMAC & The Motley Fool

Trevor Jennewine reviews the large 8.7% cost of living adjustment (COLA) granted to Social Security beneficiaries in January 2023. It was the result of very high inflation not seen in several decades. But inflation has slowed greatly, which will translate to a more normal boost in benefits estimated at around 2.7%. The author explains the CPI-W calculation used to determine the increase and that seniors may not recoup all their lost buying power if that were to be the COLA. The exact amount will be announced in October, when third quarter data is final. Full piece here.

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