With the latest CPI report and inflation data, the COLA prediction for Social Security 2024 rises

According to the government, inflation picked up in August, raising the forecast for 

Next year's Social Security increase to 3.2% from 3% on Wednesday. 

Despite a 40-year high of 9.1% in June 2022, annual inflation in August

Rose to 3.7% from 3.2% in July. As a result of removing volatile food and energy sectors, 

the core inflation rate fell from 4.7% in July to 4.3% in August. 

A forecast from The Senior Citizens League, a nonprofit seniors group, 

indicates that the cost-of-living adjustment (COLA) for Social Security 

Recipients will be 3.2% less next year. 

Despite inflation still being much higher than the Federal Reserve's 2% target,

the trend remains mainly lower.  Compared to the 2.6% average over

the past 20 years, that's less than half the four-decade high of 8.7% in 2023. 

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