Social Security Increase 2023 Expectations

SSA Planning to Announce COLA 2023 on October 13 tentatively

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Bureau of Labor Statistics releases September inflation data by October 2022

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The Inflation data released by Bureau of Labor Statistics will be used by SSA to calculate COLA

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Committee for a Responsible Federal Budget Projects COLA could be around 11%

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This Prediction was made 2 months back , the lower range could be 7.3%

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SSA uses Consumer Price Index for Urban Wage Earners and Clerical Workers to calculate COLA which is decreasing

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There are Possibilities that inflation could be lower in Q3. SSA uses average CPI-W from Q3 to find COLA 2023

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Major Drivers of inflation are fuel prices and housing prices which are keep falling.

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If these trends keep going in the same direction for next few weeks your social security increase could be lower than predictions

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If inflation continue to decrease in September as well your benefit increase would be 8.5%, which is still huge in 4 decades

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If inflation falls more sharply in September then your social security benefit increase would be 7%, which is higher since 1983.

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According to U.S. Department of Health and Human Services Medicare Part B premium raise will be much lower

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A Huge increase is still possible, but considering the other factors we mentioned, its better to keep your expectations low

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[{"selector":"#anim-16e48ce9-f04d-408e-a47f-cbcfa17df5ff","keyframes":{"opacity":[0,1]},"delay":250,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0a1942b7-26d4-4f22-92d4-74aaedf86dba","keyframes":{"opacity":[0,1]},"delay":750,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] SOCIAL SECURITY BENEFITS 14 SURPRISING FACTS ABOUT CPI

Social Security Increase 2023 Expectations

SSA Planning to Announce COLA 2023 on October 13 tentatively

October 2022

Bureau of Labor Statistics releases September inflation data by October 2022

COLA 2023

The Inflation data released by Bureau of Labor Statistics will be used by SSA to calculate COLA

COLA data

Committee for a Responsible Federal Budget Projects COLA could be around 11%

CRFB Projection

This Prediction was made 2 months back , the lower range could be 7.3%

keep your hopes low

SSA uses Consumer Price Index for Urban Wage Earners and Clerical Workers to calculate COLA which is decreasing

CPI-W

There are Possibilities that inflation could be lower in Q3. SSA uses average CPI-W from Q3 to find COLA 2023

Inflation

Major Drivers of inflation are fuel prices and housing prices which are keep falling.

fuel and housing prices

If these trends keep going in the same direction for next few weeks your social security increase could be lower than predictions

Predictions may go wrong

If inflation continue to decrease in September as well your benefit increase would be 8.5%, which is still huge in 4 decades

Inflation at same rate

If inflation falls more sharply in September then your social security benefit increase would be 7%, which is higher since 1983.

Inflation SHARP FALL

According to U.S. Department of Health and Human Services Medicare Part B premium raise will be much lower

another good news

A Huge increase is still possible, but considering the other factors we mentioned, its better to keep your expectations low

Huge increase still possible

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SHARE WITH YOUR FRIENDS

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