The Social Security Cost of Living Adjustment (COLA) for 2019 will be 2.8 percent. This means Social Security beneficiaries will get an increase in their monthly benefit starting January 2019, assuming other costs stay the same.
The annual COLA for Social Security is based on changes in the year-over-year inflation rate for the third quarter (July, August and September) determined by the Bureau of Labor Statistics, using the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The CPI-W is a just a part of the overall Consumer Price Index which looks at price changes for more items, such as food, housing, transportation, medical costs and others. Inflation data for this time period was lower than previous projections.
The COLA will result in a $39 monthly increase in the average benefits for all retirees.
