"America's retirees will get an extra $56 in their wallets monthly, as Social Security checks adjust to keep up with rising prices. Social Security's annual cost-of-living adjustment, which is tied to a key inflation measure, will be 2.8%for 2026. That will shake out to an additional $56a month for nearly 71 million beneficiaries starting in January, according to the Social Security Administration, with Supplemental Security Income recipients getting their beefed-up checks starting at the end of December."
"The cost-of-living adjustment skyrocketed to 8.7% in 2022 for 2023, when inflation was much higher than it has been. The adjustment - and the data it's based on - comes as other federal functions and data remain in a holding pattern. The Bureau of Labor Statistics didn't publish its September jobs report earlier this month because of the ongoing government shutdown, and it has yet to be released."
Social Security benefits will rise 2.8% in 2026, translating to roughly $56 more per month for nearly 71 million beneficiaries beginning in January. Supplemental Security Income recipients will receive increased payments at the end of December. The adjustment is calculated from third-quarter consumer price index data after September inflation reached 3%, matching January's rate. The cost-of-living adjustment was 8.7% in 2022 for 2023 when inflation was higher. Publication of some federal economic data was delayed by a government shutdown, postponing the planned October 15 release of inflation figures and related reports.
Read at Business Insider
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