<br><div><aside class="gnt_em gnt_em__fp gnt_em_vp__tp gnt_em__el" aria-label="Video - Social Security recipients to get 3.2% cost-of-living adjustment on 2024 benefits check"/><p class="gnt_ar_b_p">The latest estimate for Social Security's cost-of-living adjustment for 2025 jumped to 2.4% due to <a target="_blank" href="http://www.usatoday.com/story/money/2024/03/12/cpi-report-march-2024-inflation-data/72934243007/" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a" rel="noopener">sharper gains in inflation last month</a>, according to The Senior Citizens League (TSCL), a nonprofit advocacy group.</p><p class="gnt_ar_b_p">In January, the 2025 COLA estimate was <a target="_blank" href="http://www.usatoday.com/story/money/personalfinance/2024/02/13/2025-social-security-cola-expected-fall-inflation/72581920007/" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a" rel="noopener">1.75%</a>.</p><p class="gnt_ar_b_p">The consumer price index (CPI), a broad measure of goods and services costs, <a target="_blank" href="http://www.usatoday.com/story/money/2024/03/12/cpi-report-march-2024-inflation-data/72934243007/" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a" rel="noopener">rose 3.2% in February</a> from a year earlier, according to government data reported on Tuesday.</p><p class="gnt_ar_b_p">The so-called core rate, which strips out volatile food and energy prices, rose 3.8% on the year.</p><p class="gnt_ar_b_p">The subset consumer price index for urban wage earners and clerical workers, or CPI-W, that COLA is based on, rose two-tenths from January to 3.1%.</p><p class="gnt_ar_b_p"><strong>Protect your assets:</strong> <a target="_blank" rel="noopener" data-t-l=":body nav (hys)|e|auto spike click:5|${u}" class="gnt_ar_b_a" href="https://www.usatoday.com/money/blueprint/banking/savings/best-high-yield-savings-accounts/">Best high-yield savings accounts of 2023</a></p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p">All the items older adults spend most of their money on continued to rise, said Mary Johnson, TSCL policy analyst. "Shelter, medical, and transportation prices remain higher than overall inflation rate," she said.</p><p class="gnt_ar_b_p">Shelter jumped 5.7% year-over-year while medical care services edged up 1.1%, data from the Bureau of Labor Statistics showed. Hospital care increased 6.1% and transportation services soared 9.9%.</p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><h2 class="gnt_ar_b_mt">How is COLA calculated? </h2><p class="gnt_ar_b_p">The <a target="_blank" href="https://www.ssa.gov/" rel="noopener" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a">Social Security Administration</a> bases its COLA each year on average annual increases in the consumer price index for urban wage earners and clerical workers (CPI-W) from July through September.</p><p class="gnt_ar_b_p">The index for urban wage earners largely reflects the broad index the Labor Department releases each month, although it differs...</p></div> <style> .wrapper { text-align: center; } </style> <div class="wrapper"> <a class="button" href ="https://www.usatoday.com/story/money/personalfinance/2024/03/12/2025-social-security-cola-estimate-increase/72943222007/">Read more <span>➤</span></a> </div>
