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Early Estimate of 2025 Cost of Living Adjustment (COLA) - FOX Business
While it is still way too early in the year to say with certainty what next year’s COLA increase will be, one senior’s group is suggesting that continued high inflation will likely mean another 3% (or so) increase to everyone’s Social Security benefit. Is that good news? Well, yes in terms of getting a higher SS benefit, but no in terms of the escalating prices we are all paying for the consumer goods we buy. Fact is, we won’t know until October of this year how much our monthly SS payment will increase in 2025. But the source of this FOX Business News article by Megan Henney (The Senior Citizens League), has been quite accurate with their annual early projection of next year’s COLA. Nevertheless, retired seniors are still struggling to keep up with high inflation, as discussed in this FOX Business News article.
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