The increase in Social Security checks for 2023 due to inflation based on the Adjustment by cost of living (COLA) would be close to the percentages registered at the beginning of the 80 when the maximum of was applied .3%.
From the years 80, you do not see a COLA in the United States that exceeds 10% increase.
Specifically, in the 1980, the Social Security Administration (SSA) calculated an increase of 64.3% applicable to the following year. In 1982, the calculated increase was 11.2% applicable to the checks that people received in the1982.
After these adjustments, the highest reported COLA was 5.9% in the 2020, increase that beneficiaries have been receiving this year.
Below is a list of the most recent adjustments applied by the SSA:
| 2015 | 0.0 |
| 2017 | 0.3 |
| 2018 | 2.0 |
| 2018 | 2.8 |
| 2019 | 1.6 |
| 2020 | 1.3 |
| 2023 | 5.9 |
The COLA is a calculation that seeks to guarantee that Social Security beneficiaries, most of whom are retired, have sufficient income to face inflation and can purchase products and services they need to survive.
Although it will not be until October that there will be a clearer picture of the monthly increase that will receive more than 10 million Americans starting next January , experts have made their estimates.
Some do not rule out that the figure may approach 10%.
Mary Johnson, a political analyst and editor of the Senior Citizens League, told NBC News that her projection is that the annual adjustment will be 9.6%, which would be the most substantial increase in Social Security benefits since 1980.
The authorities require the inflation data for the months of July, August and September of this year to establish the calculation.
So far, only the data for July is available, so there is to wait more than a month to be sure of the amount of the payments next year.
To determine the adjustment that will be applied in the 2023, the agency uses the calculation known as CPI-W or Consumer Price Index for Salaried Workers in Urban Areas and Administrative Workers.
This measurement establishes the average of the prices of goods and services equivalent to the consumption expenditure of households residing in a given area.
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