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Search the Social Security category on this blog for current COLA projection which has been updated. FINAL NUMBER WILL BE KNOWN ON OCTOBER 22.
As things stand now inflation is running less than the average for July, August and September 2013 which means if this trend continues through those months in 2014, there will be no Social Security cost of living adjustment in 2015. 👀
The average CPI-W for the third quarter 2013 was 230.326. The average CPI-W for the months from October 2013 through February 2014 is 229.7906; indicating a decrease in inflation.
Clearly a lot can change between now and the end of September, but there would have to be a significant jump in inflation to generate a meaningful Social Security COLA in 2015.
✅ Note that for the vast majority of Social Security beneficiaries, if there is no COLA, the Medicare Part B premium cannot be increased. The exception is those individuals paying the higher supplemental Medicare premium. Their premium can increase regardless of any COLA.