Social Security's 2027 COLA Has a Massive Wildcard, Courtesy of President Donald Trump
Trumpflation, fueled by the Iran war, may lift Social Security’s 2027 raise well above projections.
Overview
The big day for Social Security's more than 71 million traditional beneficiaries is less than one week away. On Wednesday, Oct. 14, at 08:30 a.m. ET, the U.S. Bureau of Labor Statistics will publish the September inflation report, providing the final data point needed to calculate Social Security's 2027 cost-of-living adjustment (COLA).
Social Security's COLA can be best thought of as the near-annual raise beneficiaries receive to counter the effects of inflation over the previous year. If the cost for a large basket of goods and services rises, Social Security benefits would need to climb by the same percentage to avoid a loss of purchasing power.
Image source: Official White House Photo by Joyce N. Boghosian.
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Originally published at www.fool.com.