The 2027 Social Security cost-of-living adjustment (COLA) has not been announced yet. SSA says it will announce the next COLA in October 2026, after the Bureau of Labor Statistics publishes the September 2026 Consumer Price Index, which is scheduled for Wednesday, October 14, 2026. The COLA is the percentage by which the average CPI-W for July through September 2026 exceeds the 317.265 average for the same quarter of 2025, rounded to the nearest tenth of a percent. The 2026 COLA was 2.8%.
Key facts
- No official 2027 COLA exists as of September 30, 2026. A percentage you see before SSA announces it is someone’s estimate, not an SSA figure.
- The 2027 COLA will compare the July–September 2026 CPI-W average with 317.265, the third-quarter 2025 average, because 2025 was the last year a COLA took effect.
- The 2026 COLA was 2.8%. SSA estimated it raised the average retired-worker benefit from $2,015 to $2,071 a month, a gain of $56.
- A COLA takes effect with benefits for December and is paid in January. SSI payments generally rise by the same percentage.
How the Social Security COLA is calculated
By law, Social Security benefits keep pace with inflation through a cost-of-living adjustment based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which BLS publishes every month. SSA averages the CPI-W for July, August and September and compares that with the same three-month average from the last year in which a COLA took effect. The increase, rounded to the nearest tenth of a percent, is the COLA; if there is no increase, there is no COLA.
COLA = (average CPI-W, July–September this year − base average) ÷ base average, rounded to 0.1%
Here is the 2026 COLA worked out from the published index values:
| CPI-W (1982-84 = 100) | 2024 | 2025 |
|---|---|---|
| July | 308.501 | 316.349 |
| August | 308.640 | 317.306 |
| September | 309.046 | 318.139 |
| Third-quarter average | 308.729 | 317.265 |
(317.265 − 308.729) ÷ 308.729 = 2.8%. Because 2025 was a COLA year, the base for the 2027 COLA is the July-September 2025 average of 317.265.
When the 2027 COLA will be announced
SSA’s COLA page says, “We will announce the next COLA in October 2026.” The calculation needs the September index, and BLS lists the September 2026 CPI for release on Wednesday, October 14, 2026 at 8:30 a.m. The BLS schedule is subject to change, so check the BLS release calendar and SSA’s COLA page for the actual announcement. This page shows no 2027 COLA because none has been published.
Where the 2027 calculation stands (partial, not a forecast)
BLS has published the July and August 2026 CPI-W. September, the third month of the quarter, is still to come, so the 2027 COLA cannot be known yet. For context, here are the two published months next to the same months of 2025:
| CPI-W | 2025 | 2026 | Change |
|---|---|---|---|
| July | 316.349 | 327.104 | 3.4% |
| August | 317.306 | 328.481 | 3.5% |
| Average of July and August | 316.828 | 327.793 | 3.5% |
Through August 2026, the CPI-W ran about 3.5% above the same two months a year earlier. That is a partial comparison of two months, not SSA’s formula (which uses all three months and a 317.265 base) and not a forecast: September’s index could move the quarterly average either way.
What a COLA would mean for the average retired worker (illustrations)
These rows show the arithmetic only. They are illustrations of hypothetical percentages, not predictions. They apply each percentage to SSA’s estimate of the average retired-worker benefit, $2,071 a month in January 2026. Your own benefit will be higher or lower.
| Hypothetical COLA | Extra per month | New monthly benefit | Extra per year |
|---|---|---|---|
| 1% | $21 | $2,092 | $249 |
| 2% | $41 | $2,112 | $497 |
| 3% | $62 | $2,133 | $746 |
| 4% | $83 | $2,154 | $994 |
For comparison, the actual 2.8% COLA in 2026 raised SSA’s average from $2,015 to $2,071, or $56 a month. Medicare says most people have their Part B premium deducted automatically from their Social Security payment (Medicare.gov), so the premium can offset part of a COLA; see the 2026 Medicare Part B premium. To see how rising prices change what money buys, try the inflation calculator, and to plan retirement income use the retirement calculator.
COLA history, 2012 to 2026
| COLA year | Takes effect | Increase |
|---|---|---|
| 2026 | December 2025 benefits, paid January 2026 | 2.8% |
| 2025 | December 2024 benefits, paid January 2025 | 2.5% |
| 2024 | December 2023 benefits, paid January 2024 | 3.2% |
| 2023 | December 2022 benefits, paid January 2023 | 8.7% |
| 2022 | December 2021 benefits, paid January 2022 | 5.9% |
| 2021 | December 2020 benefits, paid January 2021 | 1.3% |
| 2020 | December 2019 benefits, paid January 2020 | 1.6% |
| 2019 | December 2018 benefits, paid January 2019 | 2.8% |
| 2018 | December 2017 benefits, paid January 2018 | 2.0% |
| 2017 | December 2016 benefits, paid January 2017 | 0.3% |
| 2016 | December 2015 benefits, paid January 2016 | No COLA (0.0%) |
| 2015 | December 2014 benefits, paid January 2015 | 1.7% |
| 2014 | December 2013 benefits, paid January 2014 | 1.5% |
| 2013 | December 2012 benefits, paid January 2013 | 1.7% |
| 2012 | December 2011 benefits, paid January 2012 | 3.6% |
Over these 15 years COLAs averaged 2.6% a year (a simple average of the rounded percentages) and compounded to about 47%. The largest was 8.7% in 2023, and there was no COLA in 2016. SSA’s own series table lists each COLA under the year it took effect in December, so the 2.8% COLA paid from January 2026 appears under 2025 there.
Frequently asked questions
When will the 2027 Social Security COLA be announced?
SSA says it will announce the next COLA in October 2026. The figure cannot be calculated until BLS publishes the September 2026 CPI, which BLS has scheduled for Wednesday, October 14, 2026 at 8:30 a.m. Until SSA publishes the percentage, no official 2027 COLA exists.
How is the Social Security COLA calculated?
SSA compares the average CPI-W for July, August and September of the current year with the average for the third quarter of the last year in which a COLA took effect. If the increase is above zero after rounding to the nearest tenth of a percent, that is the COLA. For 2026 it was (317.265 − 308.729) ÷ 308.729 = 2.8%.
What will the 2027 COLA be?
No one knows yet, because SSA has not announced it. The result depends on the July–September 2026 CPI-W average, and the September index has not been released. The only official 2026 inputs so far are the July and August index levels, shown above as a partial comparison, which is not a forecast of the final percentage.
What was the 2026 Social Security COLA?
The 2026 COLA was 2.8%, effective with December 2025 benefits and payable in January 2026. SSA estimated it raised the average retired-worker benefit from $2,015 to $2,071 a month, an increase of $56. Federal SSI payment levels rose 2.8% as well.
Is there a COLA every year?
No. A COLA happens only when the third-quarter CPI-W average rises above that of the last year a COLA took effect, after rounding to the nearest tenth of a percent. SSA’s series shows no COLA for December 2009, December 2010 and December 2015. A later COLA is measured against the last year that had one.
When does a COLA show up in my payments?
A COLA takes effect with benefits for December and is paid in January. For the 2026 COLA, SSA said benefits would rise beginning with the December 2025 benefits, payable in January 2026. SSI payments for January are always made at the end of the previous December, because January 1 is a holiday.
Calculators that use these figures
- Retirement Calculator: Retirement savings target, on-track check and sustainable withdrawals.
- Inflation Calculator: Buying power of the dollar since 1913 using official CPI data.