Social Security 2023 COLA Update 7.3%

The CPI-W for the month of May was 288.022. That indicates a 2023 COLA of 7.3% if that rate holds for the third quarter.

Here is the calculation:

(288.022 – 268.412) / 268.412 x 100 = 7.305 (adjusted to the nearest 1/10 of 1 percent = 7.3%)

268.412 is the average CPI-W for July, August and September 2021.

It’s not actually a good thing because it means high inflation

The actual 2023 COLA will be based on the average CPI-W for July, August, September 2022. It could be higher and somewhat unlikely lower.


  1. I am happy for all those on Social Security that will get a COLA, but the larger the COLA the more in trouble our economy is. The annual inflation rate of 8.6% is the worst it’s been since December 1981 (announced today). I lived through that once, I don’t look forward to living through it again on a fixed pension. It will take years to get out of this mess.


  2. Hmmm ,,,,,,, those stats could be good justification for getting a nice pay increase, maybe 10%+, for govt employees. Granted that their pay increases aren’t based on COLA, look at how they’d be rewarded for putting more money in the pockets of us poor SS recipients.


  3. Just noise now until we know at least 2 of the 3 months that are actually used in the calculation. Will check back in September before I start considering to adjust my 2023 plans.


      1. COLA is based on inflation. You or I do not change inflation – what it is is what it is. Is it 7.3% or 7.5% or 7.1%, it will cost more next year than this year. Stating a number based on numbers that won’t be used is noise. Lets market time by guessing what the market will do – another thing out of our direct control. SMH


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s