Based on the CPI-W for June 2023 (299.394)
299.394 – 291.90) / 291.90 x 100 = 2.56 to the nearest 1/10 of 1 percent = 2.6%
As of the end of June the 2024 COLA may be 2.6%
We can’t control what others do and we can’t stop misfortune from striking. But we can control our own actions. Those who are financially prudent will most likely enjoy success, even if events don’t always go their way.
QUINNSCOMMENTARY 
I am uncertain the purpose of these SS COLA quess-timates posts.
Actually we should want a lower Social Security COLA, which means lower inflation and lower expenses.
“Suppose the true inflation for seniors is 3% higher than the reported inflation. If you get a 1% COLA when the true inflation is 4% and you get a 5% COLA when the true inflation is 8%, you are much better off with a lower 1% COLA together with 4% inflation than getting a 5% COLA together with 8% inflation. Your Social Security benefits lag inflation by the same amount either way, but you’d rather your other money outside Social Security loses to 4% inflation than to 8% inflation.”
So we should root for lower inflation and lower Social Security COLA when you are retired.
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The are not guestimates, they are based on the data and become more accurate each month. July figures are the first in the final calculation. Why do you think there is such a wide difference for true inflation whatever that may mean? Plus there are various components of inflation that may not affect a given individual.
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As SS increases, so too may your taxes.
Calculator: How Much of My Social Security Benefits Is Taxable? https://thefinancebuff.com/social-security-taxable-calculator.html
And possibly your Medicare premiums may also increase because of IRMAA.
https://thefinancebuff.com/medicare-irmaa-income-brackets.html
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Can’t argue with that
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I’m going to need a bigger wheelbarrow to take all the $$ to the bank.
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