The CPI-W for July 2013 is in. This is the first month of the third quarter that will be compared with the average for the third quarter of 2012.
In the picture below the last number in the bottom row is July 2013 at 230.084. Compare that with the number directly above (225.568) for 2012 and you get a 1.962 increase. Note however, that the CPI-W for August and September 2012 was higher than July 2012 so the numbers for 2013 will have to be higher than the July number just reported to sustain a 2% increase.
The final increase will be determined when we have the comparable numbers for August and September. The actual 2014 increase for Social Security beginning in 2014 will be known around October 15th.
QUINNSCOMMENTARY 
why dont they stop giving themselves raises..in the white house ..and give this money to Social Security..I feel that they give themselves too much money to begin with..the common people are the ones who need these monies..not government officials..they get exorbitant pay as it is..and some of them dont do anything to deserve it..INCREASE COLA..WE NEED IT..ONE DAY THEY WILL BE OLD AS WLL
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Congress and government employees did not receive raises for several years during the recession and only modest increases since then. Government officials do not receive exorbitant pay at all. Besides, even if they received no raise ever again it would be insignificant as far as Social Security payments go.
Dick
Blog http://www.quinnscommentary.com Twitter @quinnscomments
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