The Cost of Living Adjustment (COLA) for Social Security next year is expected to be 10.5%. This is the first double-digit increase in 40 years.
https://finance.yahoo.com/news/social-security-estimate-2023…
Based on Wednesday’s Consumer Price Index report from the U.S. Bureau of Labor Statistics — which showed inflation in June surging 9.1% from the previous year — the COLA for 2023 will be about 10.5%, according to the Senior Citizens League, a non-partisan seniors advocacy group.
- Pete