Social Security increase is likely larger than expected: When will we know exact COLA amount?

One more month of data will determine how much of an increase Social Security recipients will receive in 2024.. By law, the annual increase– known as the Cost of Living Adjustment, or COLA– is based on average inflation during July, August and September as measured by the Consumer Price Index for Urban Wage Warners and Clerical Workers, or CPI-W., according to the…