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Social Security cost-of-living adjustment could be 10.5% in 2023, according to new estimate

Based on new consumer price index data for June released Wednesday, The Senior Citizens League, a nonpartisan senior group, now estimates the cost-of-living adjustment will be 10.5% for 2023.

A 10.5% COLA would amount to a $175.10 increase to the average monthly retirement benefit of $1,668, according to The Senior Citizens League.

In comparison, the group’s estimates from the past two months indicated the COLA for next year might be 8.6%.

That’s as the Consumer Price Index for all Urban Consumers, or CPI-U, climbed 9.1% in June over the previous 12 months, the fastest pace since 1981.

Meanwhile, the measurement used by the Social Security Administration to calculate the COLA each year — the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W — shot up 9.8% over the last 12 months.

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4 thoughts on “Social Security cost-of-living adjustment could be 10.5% in 2023, according to new estimate”

  1. That is, if the illegals don’t clean it out first. They are going to take this country broke, Let’s go Brandon!!!!

  2. With a 5.9% increase last year we saw just our Medicare B, Medicare deductible and ALL OTHER Medicare ‘plans’ increase PER MONTH taking most of that from us. B went up $30, the deductible increased by $33 so there’s $66 of the roughly $75 to maybe $100. Nothing to compensate for the HORRID INFLATION the Idiot in Chief and his joke of an administration has caused. Social Security will NEVER catch up with the cost of living because every time they get an increase it allows the GOVERNMENT to take it back in the form of “insurance”. We need an increase in our SS checks WITH A FREEZE on our health plan premiums. A 10% increase just makes us bend over FURTHER for this half ass, greedy ‘government’.

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