Social Security COLA for 2027 estimated at 4.7% as inflation hits three-year high
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Lorie Konish
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Summary
Consumer prices rose in May, pushing annual inflation to its highest level in three years. This points to a potential 4.7% Social Security COLA for 2027, according to independent analyst Mary Johnson, who previously forecast 4.2%. Johnson notes the estimate could climb higher as more data comes in, especially on gasoline prices. The Social Security Administration typically announces the COLA for the following year in October.
Key quotes
· 3 pulledThere's a considerable likelihood that it's going to climb even higher than 4.7% as data continues to come in, especially on the gasoline prices.
Consumer prices rose in May, pushing the annual inflation rate to its highest level in three years, according to new government data.
Last month, Johnson had forecast a 4.2% COLA for next year.
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