Those holding their breath for a substantial bump in 2017’scost-of-living-adjustment to Social Security benefits are most likely doingso in vain.
On October 18, the U.S. Department of Labor's Bureau of LaborStatistics will officially announce the Social SecurityCost-of-Living Adjustment rate for 2017, which is derived fromaveraging the July, August, and September inflation numbers fromthe Consumer Price Index for Urban Wage Earners and ClericalWorkers, or the CPI-W index.
From there, actuaries average this year’s inflation increasewith the previous Cost-of-Living Adjustment, which was made in thethird quarter of 2014. There was no COLA in 2015.
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