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Iran, Oil Proces, and COLA…The Speculation is in Full Force - msn.com; 247wallst.com
Even though we’re a long, long way from the mechanics of 2027’s Social Security cost-of-living adjustment calculation, the COLA watch has begun. For example, a post yesterday on msn.com trumpeted this headline, “Oil shock may spike 2027 Social Security boost,” while a post by 247wallst.com’s John Seetoo noted, “The February (CPI-W) reading does not capture what happened at the gas pump in early March. Based on the trajectory, the next few monthly prints are likely to push that 2.2% figure higher, potentially back above the 2.8% COLA threshold.”
While these are valid observations, it’s important for Social Security recipients to remember that the current situation falls outside the parameters for next year’s COLA. The calculation performed in October to set the COLA for the following year compares the current year’s third-quarter CPI-W data against last year’s third-quarter data. This will likely be a hot topic in the weeks and months ahead, so stay tuned for regular updates as the situation evolves.
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