Social Security Update: Seniors Will Get Major COLA Information Next Week
Forecasts say that beneficiaries could be in line for a larger increase than the 2.8 percent adjustment received in 2026.
Social Security recipients are close to receiving crucial information about potential 2027 benefit increases. The calculation of the annual cost-of-living adjustment (COLA) hinges on the July 2026 Consumer Price Index (CPI) report from the Bureau of Labor Statistics. This report is the first of three readings that determine the 2027 COLA.
Experts predict beneficiaries may see a larger increase than the 2.8% adjustment in 2026. Over 70 million Americans receive Social Security or Supplemental Security Income benefits, and the COLA helps keep their payments in line with inflation. The July report is particularly significant as it provides the initial inflation readings for July, August, and September, which are used to calculate the COLA.
While the final adjustment won't be announced until October, many analysts have predicted a 3.8% COLA, which would raise an average monthly retirement benefit by about $74. However, beneficiaries should remember that a larger COLA reflects higher inflation, which could be offset by rising living expenses.
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