Inflation May Push Social Security COLA up Around 10% in 2023

Inflation May Push Social Security COLA up Around 10% in 2023
Inflation may push social security cola up. bht2000/Shutterstock
Tribune News Service
Updated:
By Georgina Tzanetos From Bankrate.com

With inflation near a 40-year high, Social Security could get a historic boost next year to help seniors keep up. The most recent estimate for a 2023 cost of living adjustment (COLA) is 9.6 percent, says Mary Johnson, Social Security and Medicare policy analyst for senior advocacy group the Senior Citizens League (SCL).