A Social Security COLA for 2017 not looking good.
The CPI-W for July 2016 was at 234.789 (down from June). This is the first of the three months whose average determines whether or not there is a Social Security COLA for 2017. The August CPI-W was 234.909 meaning the two month average is 234.849.
The CPI-W for September when added to this average will determine any COLA.
The average for the previous benchmark of July, August and September 2014 (last year of a COLA December 2014/January 2015) was 234.241.
At this point a COLA could be 0.3%
By the way, if they follow the law, all of such an increase will be consumed by higher Medicare premiums. For most people your SS check will not go down, but neither will it go up unless by some miracle the COLA is greater for you in dollars than the Medicare premium you should paying.
Categories: Social Security