You might get a bigger Social Security check next year. Here's why

Social Security recipients may see a larger cost-of-living adjustment (COLA) of about 3.2% next year due to persistent high inflation, compared to an 8.7% increase in 2023. This adjustment, calculated from the Consumer Price Index for Urban Wage Earners and Clerical Workers, reflects ongoing financial pressures from rising costs in housing, gasoline, and other essentials. Despite some relief in grocery prices, the overall inflation continues to erode buying power, significantly impacting low-income households. The final COLA will be announced in mid-October.