Social Security COLA Watch: October 2012

The CPI-W for September 2012 was released this morning by the Bureau of Labor Statistics, and, just as in August, the index increased considerably from last month, moving up from 227.056 to 228.184. The average of the July, August, and September CPI-Ws is 226.936 which is 1.65% higher than the third quarter 2011 average (the baseline for COLA calculations). In fact, the SSA has announced that beneficiaries will see in increase in their benefits of 1.7% starting in January of 2013.

As has been the case for the past few months, the increase in the CPI-W was mainly due to energy prices, but food prices, as well as the prices of all goods excluding food and energy ticked up slightly as well.

On this blog, we’ll keep an eye out for issues that may impact COLAs going forward. As we get closer to the third quarter of 2013, we’ll resume regular posts on the topic.

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