Your Social Security COLA increase could be smaller than expected next year

By Megan Henney  | Fox Business

Social Security recipients are on track to receive a cost-of-living adjustment (COLA) next year that is smaller than previously expected after inflation moderated more than expected in May.

Mary Johnson, a retired Social Security and Medicare analyst, estimated the adjustment could be about 3%, based on May inflation data, which showed the consumer price index was unchanged from the previous month and is up 3.3% from the same time last year.

Both figures are lower than expected, suggesting high inflation is loosening its grip on the U.S. economy.

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