Social Security's 2025 COLA: Here's What We Know So Far
At this point, many consumers are beyond frustrated with what economists are calling sticky inflation. Workers and retirees alike have been grappling with higher living costs since 2021. And while we're not seeing the same runaway inflation now as we did in 2022, many people are still feeling the strain at the supermarket, drugstore, and pump.
In 2023, seniors on Social Security got a massive 8.7% cost-of-living adjustment, or COLA, following a period of truly rampant inflation. At the start of 2024, however, benefits only rose 3.2% -- a generous COLA in the context of the past 20 years, but nowhere close to 8.7%.
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Source Fool.com
