The latest government data shows inflation is subsiding, which points to a lower Social Security cost-of-living adjustment in 2025, a new estimate finds.
As new government data shows inflation subsiding, Social Security beneficiaries may expect a lower cost-of-living adjustment in 2025.
In 2025, the Social Security COLA may be 2.6%, according to Mary Johnson, an independent Social Security and Medicare policy analyst.Americans saw in 2024. It's also substantially lower than the 8.7% COLA Social Security beneficiaries received in 2023, and the 5.9% increase for 2022. To be sure, the estimate for 2025 is still subject to change. The annual Social Security cost-of-living adjustment is calculated based on third quarter data from a subset of the consumer price index, known as the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W.Feeling out of the loop? We'll catch you up on the Chicago news you need to know.
Inflation is also a persistent concern for those older Americans, with 37% worried about covering basic expenses such as food and housing. Meanwhile, 70% are worried about prices rising faster than their incomes.
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