Social Security Increase for 2025 Projected at 2.63 Percent, Lowest Hike in 3 Years

Published on July 12, 2024

The cost-of-living adjustments (COLA) for Social Security recipients next year won’t exceed 3 percent and could place more stress on beneficiaries struggling with high food costs, according to The Senior Citizens League (TSCL). “The 2025 COLA prediction is about 2.63 percent, up from 2.57 percent last month,” Alex Moore, TSCL social security and Medicare statistician, said in a July 11 press release. If the prediction turns out to be true, this would be the lowest COLA bump since 2021. The new COLA projection was made after recent data showed that June inflation fell to 3 percent from 3.3 percent in May. “Although easing inflation should relieve older consumers, the rapidly increasing price of groceries the 2020s have seen thus far means financial relief is still far away,” TSCL said....

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