Social security benefits may rise by nearly three percent next year from a cost of living adjustment (COLA) stemming from inflation, said The Senior Citizens League (TSCL).
COLA adjustments are calculated based on inflation in wages, using the metric, “Consumer Price Index for Urban Wage Earners and Clerical Workers” (CPI-W). On May 15, the U.S. Department of Labor released the latest CPI-W for April, which came in at 3.4 percent. This was slightly lower than March’s 3.5 percent. Based on the latest data, TSCL, an advocacy group for seniors, estimated the COLA benefit for 2025 at 2.66 percent, slightly higher than the previous calculation of 2.6 percent.
