How Much Social Security Benefits Are Increasing

Data from the Consumer Price Index are used to determine the COLA

The US Bureau of Labor Statistics releases CPI data on the 13th of every month

According to the agency, inflation was 8.3% in August, down from 8.9% in July

COLA increases are announced in October by the Social Security Administration

On the same day as September's CPI, the bureau announced COLA in 2021

Next year's Social Security benefits should be increased on Oct. 13

If the agency follows previous trends