2023 SS COLA Estimate Now 10.5%

Delaying Social Security to age 70 is my best performing asset.

New 2023 Social Security COLA Estimate Jumps To 10.5%

Based on Consumer Price Index data for urban wage earners and clerical workers through June (data released today by the Bureau of Labor Statistics), it appears the COLA for 2023 will be 10.5%, the highest since 1981, when it was 11.2%, according to Mary Johnson, a Social Security policy analyst at the Senior Citizens League who spoke with Financial Advisor magazine. The increase is 1.9 percentage points more than the 8.6% estimate in May as inflation continues to accelerate and outpace the expectations of both economists and the public at large.