Social Security's 2027 COLA Could Be the Biggest Since 2023
View original at nasdaq.comSocial Security's 2027 COLA Could Be the Biggest Since 2023 Key Points Recent developments have pushed expectations for the 2027 COLA significantly higher…
What we drew from this source
The claims Via News extracted from this document. We point to the source; we don't replace it.
Business leaders expect inflation to average 3.7% over the next 12 months, based on the Cleveland Fed's quarterly executive survey
60% confidenceThe 2027 COLA could be the highest since the 8.7% adjustment in 2023 and would rank as the third-largest COLA since 2009
60% confidenceCPI-U is forecast to climb 4.2% year over year
60% confidencePrices for shelter, medical services, and food all increased about 3.2% year over year, exceeding the 2.8% COLA most beneficiaries received
60% confidenceThe longer the Strait of Hormuz remains blocked, the higher oil prices will climb, with a knock-on effect on overall inflation rates
60% confidenceThe 2027 Social Security COLA is now projected at 4.2%, up from prior expectations of 3.2%
60% confidence62% of retirees say Social Security is a major source of revenue, the highest level recorded in the poll's 25-year history
60% confidenceThe CPI-W rose 3.9% year over year in April, driven by the ongoing war in Iran pushing oil prices higher
60% confidenceThe 2027 Social Security COLA is now expected to come in at 3.9%, up from a prior forecast of 2.8%
60% confidence
Data points we hold from this source
| Social Security Administration · market share | 62 percent_retirees_citing_as_major_income_source |