Inflation was 2.9 percent in August, says the Bureau of Labor Statistics. September's number will determine 2019's Social Security COLA increase. (Photo: Shutterstock)
Social Security's beneficiaries can expect a bump in benefits in 2019, courtesy of a Cost of Living Adjustment, which will be formally announced October 11.
Social Security COLAs reflect inflation rates and are based on third quarter measurements of the Consumer Price Index for Urban Wage Earners and Clerical Workers, or the CPI-W.
Inflation in July was 3.2 percent, and 2.9 percent in August, according to the Bureau of Labor Statistics. September's number will determine if next year's COLA increase will exceed 3 percent, the highest increase since 2011, when Social Security checks increased 3.6 percent after two years of no COLA increases.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
