A shopper looks at a beverage display June 4, 2026 at the Market 32 Supermarket in South Burlington, Vermont.
Robert Nickelsberg | Getty Images
The Social Security cost-of-living adjustment will be 3.6% in 2027, the Social Security Administration said on Wednesday.
Social Security retirement benefits will go up by $75 per month, on average, the agency said.
The cost-of-living adjustment, or COLA, provides an annual inflation adjustment to both Social Security and Supplemental Security Income, or SSI, benefits.
"Social Security will implement this cost-of-living adjustment for 76 million Americans, giving them greater financial stability," Social Security Commissioner Frank Bisignano said in a statement.
Around 72 million Americans will see the benefit increases in January, according to SSA. About 7.3 million SSI beneficiaries will receive higher payments starting Dec. 31, the agency said.
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The 3.6% COLA for 2027 is in line with Social Security experts' projections, which last month forecast an increase of 3.5% to 3.6%.
The 3.6% COLA for 2027 is the largest increase to benefits since 2023. That year, beneficiaries received an 8.7% benefit boost — the highest in four decades — in response to rising inflation.
New government inflation data released on Wednesday shows consumer price increases are accelerating. The consumer price index rose 3.7% over the past 12 months, as gas prices jumped.
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