The Social Security Administration will announce the 2027 cost-of-living adjustment (COLA) in October, and the number that sets it, September's inflation report, comes out Wednesday, October 14, 2026 at 8:30 a.m. Eastern. The COLA is not announced yet. But July and August are already published, and with those two months locked in, a COLA of 3.0% or less would need September prices to fall about 1%.
Key takeaways
- The Bureau of Labor Statistics releases the September 2026 consumer price data on October 14, 2026 at 8:30 a.m. ET. That report completes the numbers that set the 2027 COLA.
- The COLA compares the July–September 2026 average of the CPI-W with last year's average of 317.265, rounded to the nearest tenth of a percent.
- July 2026 was 327.104 and August was 328.481. With those fixed, a 3.0% or lower COLA would need September to come in near 325.2 or below.
- As of October 7, 2026, no 2027 COLA has been announced. Last year's COLA was 2.8%, paid starting with January 2026 benefits.
- The COLA is an increase on your current benefit, not a separate payment. A $1,800 benefit rises about $61 a month at a 3.4% COLA.
Every October, millions of retirees, people with disabilities and their families wait for one number: how much their Social Security check will go up in January. This year that number lands on October 14, 2026, and a lot of the math is already done.
The raise is called a cost-of-living adjustment, or COLA. It exists so benefits keep up with rising prices. It is not set by Congress or by a vote. It is a formula, and the formula only needs one more month of data.
When is the 2027 COLA announced?
The COLA depends on September’s inflation numbers, which the Bureau of Labor Statistics (BLS) publishes on a set schedule. The BLS 2026 release calendar lists the September 2026 report for Wednesday, October 14, 2026, at 8:30 a.m. Eastern.
SSA’s own COLA summary page says the next COLA will be announced in October 2026. As of October 7, there is no official 2027 figure.
| Step | Date |
|---|---|
| July 2026 price data published | Already out |
| August 2026 price data published | Already out |
| September 2026 price data and the COLA | Wednesday, October 14, 2026, 8:30 a.m. ET |
| Higher payments begin (same timing as last year) | Benefits for December 2026, paid in January 2027 |
How is the COLA calculated?
SSA uses a version of the Consumer Price Index called the CPI-W, which tracks prices paid by urban wage earners and clerical workers. The steps, as SSA lays them out in its 2026 Federal Register notice:
- Average the CPI-W for July, August and September of this year.
- Compare that average with the same three-month average from the last year a COLA was set.
- Round the percentage increase to the nearest tenth of a percent. That is the COLA.
Here is last year’s calculation, straight from that notice:
| July | August | September | Average | |
|---|---|---|---|---|
| 2024 | 308.501 | 308.640 | 309.046 | 308.729 |
| 2025 | 316.349 | 317.306 | 318.139 | 317.265 |
317.265 ÷ 308.729 = 1.0276, which rounds to a 2.8% COLA for 2026.
For 2027, the base is that 2025 average of 317.265, because 2025 was the last year a COLA was set.
What do July and August already tell us?
BLS has published two of this year’s three months. The CPI-W data series shows:
- July 2026: 327.104
- August 2026: 328.481
Both are well above last year’s average of 317.265. That means the COLA is mostly decided already. September can still move the answer, but only by a few tenths of a percent unless prices swing sharply.
This is arithmetic, not a forecast. Each row below plugs in a possible September value and shows the COLA the formula would produce. We don’t know September’s actual number.
| If September’s CPI-W is | Three-month average | COLA |
|---|---|---|
| 326.000 | 327.195 | 3.1% |
| 328.000 | 327.862 | 3.3% |
| 329.000 | 328.195 | 3.4% |
| 331.000 | 328.862 | 3.7% |
| 332.000 | 329.195 | 3.8% |
For example, if September matches August at 328.481: (327.104 + 328.481 + 328.481) ÷ 3 = 328.022. Then 328.022 ÷ 317.265 = 1.0339, which rounds to 3.4%.
To get a COLA of 3.0% or lower, September would need to come in around 325.2 or less. That is roughly 1% below August in one month. It is possible, but it would be unusual. The official number on October 14 is the only one that counts.
What would a COLA mean for my check?
The COLA is a percentage added to the monthly benefit you already get. Here is an example.
Illustration only, using a made-up benefit. Sam gets $1,800 a month from Social Security.
- At a 3.1% COLA: $1,800 × 0.031 = $55.80 more a month, or $669.60 a year.
- At a 3.4% COLA: $1,800 × 0.034 = $61.20 more a month, or $734.40 a year. New check: $1,861.20.
- At a 3.8% COLA: $1,800 × 0.038 = $68.40 more a month, or $820.80 a year.
SSI, the program for people with limited income and resources, gets the same percentage increase, according to SSA’s notice. SSI is a separate program from Social Security retirement and disability.
Will the raise really show up as a raise?
Often, part of it goes to Medicare. If you’re on Medicare, the Part B premium is usually taken straight out of your Social Security payment. When that premium goes up, your raise shrinks by the same amount.
CMS had not announced the 2027 Part B premium as of October 7, 2026. For reference, the 2026 premium was announced on November 14, 2025. We cover what’s coming in our Medicare Open Enrollment 2027 guide.
Other things can move the number too. If you pay income tax on part of your benefits, a bigger check can mean a bigger tax bill. Your own situation decides how much of the raise you keep.
What to do now
- Mark October 14. The BLS report comes out at 8:30 a.m. Eastern, and SSA has said it will announce the COLA in October. Wait for the official number before planning around it.
- Check your current benefit. Log in to your my Social Security account at ssa.gov to see your exact monthly amount. Your COLA applies to that figure.
- Run your own numbers. Plug a few COLA rates into our retirement calculator and see what inflation does to your budget with the inflation calculator.
- Plan around Medicare costs. When CMS publishes the 2027 Part B premium, subtract it from your expected raise to see what you actually keep.
The full background, including the history of past COLAs, is on our 2027 Social Security COLA page. We’ll update it once SSA announces the number.
Frequently asked questions
When will the 2027 Social Security COLA be announced?
The Bureau of Labor Statistics will release September 2026 consumer price data on October 14, 2026 at 8:30 a.m. Eastern. That data completes the quarter used to figure the COLA, so the Social Security Administration (SSA) can announce the new percentage in October. SSA has said it will announce the next COLA in October 2026. Nothing has been announced as of October 7.
What is the 2027 COLA going to be?
Nobody knows yet, including SSA, because September's price data isn't out. What we can say is that July and August 2026 were already published and are high enough that a COLA of 3.0% or lower would require September prices to drop about 1% from August. That is arithmetic, not an official forecast. The real number arrives October 14.
How is the Social Security COLA calculated?
SSA averages the CPI-W, a government inflation measure for urban wage earners and clerical workers, for July, August and September. It compares that average with the same quarter in the last year a COLA was set. The percentage increase, rounded to the nearest 0.1%, is the COLA. For 2026 the averages were 308.729 and 317.265, which gave 2.8%.
When will my bigger Social Security payment arrive?
The increase applies starting with benefits for December, which are paid in January. SSA's notice for last year's COLA says the 2.8% increase applied to benefits for December 2025, payable in January 2026. The same timing is expected for 2027. SSI payments, a separate program for people with limited income, get the same percentage increase.
Will a bigger COLA mean I keep more of my check?
Not always. Most people have their Medicare Part B premium taken out of their Social Security payment, so a higher premium can eat part of the raise. CMS had not announced the 2027 Part B premium as of October 7, 2026. Last year it published the 2026 amount on November 14, 2025. Check your own numbers once both are out.