Will Social Security's next cost-of-living adjustment (COLA) make 2022's seem negligible? There's reason to believe it might.

Granted, it's too soon to land on a solid estimate because we need third quarter data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) to calculate that number precisely. The CPI-W measures changes in the cost of goods and services, and a big component of it is gas prices. Those have eased in recent weeks, but we don't know what the second half of August and September have in store.

Either way, though, seniors could be looking at a 2023 COLA that's upward of 8%, and one that may be close to 11% based on previous estimates. Even if we land in the middle, that could give seniors a raise in the 9% range, which is far more substantial than the 5.9% COLA they got going into 2022.

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Source Fool.com