Rob Wile is a Pulitzer Prize-winning journalist covering breaking business stories for NBCNews.com.
Social Security recipients can expect a 2.5% cost-of-living adjustment increase in their payments starting in 2025 amid cooling inflation. It's the smallest increase since 2021. The amount equates to a top-line figure of approximately $48 more per month, with average check amounts rising from $1,920 to $1,968. On Thursday, the Bureau of Labor Statistics reported the 12-month consumer price index inflation rate hit 2.4% in September.
Since 2023, an unofficial price index tracked by the Bureau of Labor Statistics that measures goods and services more likely to be purchased by adults ages 62 and older, known as the CPI-E , has been rising faster than the current index used by the Social Security Administration to calculate its annual cost-of-living adjustment. That, advocates say, is proof that seniors and other Social Security recipients are facing a declining standard of living.
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