Social Security Recipients Could See Larger Payment Adjustment In 2027 Amid Higher Inflation

A senior citizens group has forecast that the cost-of-living adjustment (COLA) for Social Security payments will increase by 3.9 percent next year, more than 1 percentage point higher than last month’s prediction.The Senior Citizens League, which issues monthly projections on the COLA for Social Security, said in a statement Tuesday the 3.9 percent for 2027 is already higher than the 2.8 percent increase that went into effect in 2026. The group in April had forecast a 2.8 percent increase for next year’s payments.“Fast-rising oil prices could have downstream effects on the economy and push inflation even higher,” potentially leading to...