The Latest 2025 Social Security Cost-of-Living Adjustment (COLA) Forecast Has Some Great News for Retirees
Social Security is an increasingly important piece of many seniors' retirement budgets. In an annual Gallup poll, 60% said Social Security is a major source of income, the highest level in over a decade. Another 28% said it's at least a minor source of income in retirement.
With many seniors reliant on Social Security to make ends meet, the annual cost-of-living adjustment (COLA) is of great importance for them. Beneficiaries receive a bump in their monthly checks every year based on the average year-over-year inflation in July, August, and September. We're about a month away from getting the first set of data that will go into calculating retirees' COLA, but analysts are already putting out their best guesses for where it could land.
Following the June Consumer Price Index (CPI) reading, The Senior Citizens League updated its forecast. Despite lower-than-expected inflation last month, the group increased its expectations to a 2.63% COLA, up from 2.57% last month.
Source Fool.com
