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84Buff

Joined: 00/00/0000 Posts: 3159
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Civics challenged? "Dems help promote . . ."


​How the Social Security COLA is calculated​

​The annual Social Security COLA is based on the change in prices of a market basket of goods. To measure these changes, SSA uses the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).​

​For the 2022 COLA, SSA measured the change in the average CPI-W index from July, August and September of 2020 to the average CPI-W index for the same three-month span in 2021. The percentage change between the two quarterly averages is the COLA starting in January 2022.​

​The 2022 COLA was so large because prices of goods and services have significantly increased in the past year, due in part to extreme weather and COVID-19 outbreaks, which have driven up energy prices and strained the world’s supply chains.​

​Since Congress initiated automatic annual COLAs in 1975, there have been three years in which benefits didn't increase at all: 2010, 2011 and 2016. The single biggest increase, 14.3 percent, went into effect in January 1981.​

(In response to this post by Bisonic)

Posted: 10/18/2021 at 10:14AM



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Current Thread:
  So let's direct money to those in need, no? ** -- buffaloaded 10/14/2021 3:39PM
  Civics challenged? "Dems help promote . . ." -- 84Buff 10/18/2021 10:14AM
  Why is that? ** -- Colo Spgs Buff 10/14/2021 2:49PM
  And Fed projections have been way off -- 84Buff 10/14/2021 12:10PM
  Yes it is. Where is the Speaker of the House from? -- Colo Spgs Buff 10/14/2021 12:09PM
  Same reply to '62 below - please get specific. -- Bisonic 10/14/2021 12:41PM
  Its almost as if -- 84Buff 10/14/2021 12:15PM
  Bur Biden wants the US to follow CA's policies..... -- 1962Buff 10/14/2021 12:03PM
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