Trending searches: 2025 social security cola increase
imagine your monthly social security check suddenly not covering your basic needs this is why the upcoming Cola announcement for 2025 is crucial every year the Social Security Administration adjusts benefits to keep up with inflation known as the cost of living adjustment or cola this adjustment is based on the average change in prices for consumer goods and services determined by the Bureau of Labor Statistics in October the SSA will announce the official Cola for 20 25 but experts are already making predictions based on current inflation Trends the senior citizens League forecasts a 2.57% increase for 2025 a drop from their earlier prediction of 2.63% this adjustment is vital for seniors as 69% reported their household costs Rose faster than last year's Cola especially for food and housing Social Security isn't the only benefit affected by Cola it also impacts disability insurance Medicare and supplemental nutrition Assistance programs looking back Cola increases have varied significantly 3.2% for 2024 8.7% for 2023 and 5.9% for 2022 these estimates can change monthly based on inflation rates so while predictions are close they're not always exact stay tuned for the official announcement in October keep your finan is in check and be prepared for the changes ahead stay informed stay prepared