A prominent advocacy group for retired Americans on Tuesday predicted that the cost-of-living adjustment (COLA) for next year’s Social Security payments will increase by 3.8 percent, coming as the federal government released its anticipated monthly inflation data.
The Senior Citizens League (SCL), which offers monthly forecasts on COLA for the next year’s payments, said in a statement that the 3.8 percent is “unchanged from last month and 1.0 percentage points higher than this year’s COLA,” which was 2.8 percent.
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