May Dates Social Security Recipients Need To Circle On Their Calendars

"One of the most important days of the month for Social Security recipients is the date that the Bureau of Labor Statistics releases the Consumer Price Index data. BLS provides information on a monthly basis showing how the cost of a basket of goods and services is trending. This is a measure of inflation, or rising prices."

"This number is very important to retirees because seniors get a Cost of Living Adjustment (COLA), which is based on year-over-year changes to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). While the COLA is specifically calculated using third-quarter CPI-W data, keeping track of how this number is trending provides insight into what the COLA is likely to look like."

"Retirees depend on this raise to help ensure their benefits keep pace with inflation. In 2026, the COLA was 2.8%, and early predictions suggest it could be higher next year (potentially around 3.2%). The May CPI numbers will provide another data point that helps seniors know what to expect in terms of the 2027 raise."

"Inflation data is also important to seniors because rising prices don't tend to be good news for those who have a lot of money saved in retirement accounts. These accounts don't have automatic inflation adjustments like Social Security does, and many seniors tend to invest conservatively because they can't afford to take risks with money they will need soon. As a result, these accounts can lose buying power when inflation is surging."

The Bureau of Labor Statistics releases monthly Consumer Price Index data, which measures inflation through changes in the cost of a basket of goods and services. Social Security benefits include a Cost of Living Adjustment based on year-over-year changes to CPI-W, using third-quarter CPI-W data for the final calculation. Tracking CPI trends helps retirees estimate what the upcoming COLA may be. In 2026, the COLA was 2.8%, and forecasts suggest a higher rate for the next year, potentially around 3.2%. Inflation also affects retirement savings because many accounts do not automatically adjust for inflation, reducing purchasing power when prices rise. The May CPI data is expected on May 12, 2026.

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