Social Security COLA could top 10% in 2023
Current inflationary trends point to the biggest benefit increase in 41 years, with June CPI showing a 9.1% jump over the last 12 months.
It’s not official yet, but if current inflationary trends continue for the next three months, next year’s Social Security cost-of-living adjustment could boost benefits by 10% or more — the largest annual increase in 41 years.
U.S. inflation as measured by the consumer price index rose 0.7%
Learn more about reprints and licensing for this article.
