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What day will the officials announce the 2023’s COLA increase?
The Cost-Of-Living Adjustment (COLA) is to ensure that the purchasing power of Social Security and Supplemental Security Income (SSI) benefits is not eroded by inflation. It is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of the last year to the third quarter of the current year. This year many experts are projecting around an 8.7 percent increase. So, when can beneficiaries expect the official announcement? Michael Bartiromo and Nexstar Media Wire report on the specific date Social Security will announce the COLA and when it will go into effect. Read the article here…
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