US retirees to receive 3.6% Social Security increase in 2027

Oct 14 (Reuters) - Some ‌76 million Americans ​receiving ​Social Security and Supplemental Security Income benefits will see their monthly payments rise 3.6% ‌in 2027, accelerating from the prior year's increase for ⁠a second straight year.

The Social Security Administration announced the annual ‌cost-of-living adjustment to benefits on ‌Wednesday after the Bureau of Labor Statistics published the Consumer Price Index for September.

The agency bases the ​annual increase, closely watched by retirees and others receiving benefits, on the average of the annual ⁠increase in the CPI for Urban Wage Earners and Clerical Workers, also known ​as the CPI-W index. That index rose 3.9% in September and averaged about 3.6% for ​the three months of July, ‌August and September.

The increase takes effect in January for 72 million Social Security recipients ⁠and on December 31, 2026, for nearly 7.3 million SSI beneficiaries. Some recipients receive both Social Security and SSI benefits.

For ⁠2026, the increase was 2.8%.

Inflation accelerated again this year after the ​US and Israel attacked Iran, causing global energy market disruptions that have sent crude oil prices above $100 a barrel. More recently, ‌refined petroleum products like diesel fuel have climbed to record highs and have contributed ‌to a widening of inflationary pressures.

The more widely watched ⁠main CPI index rose ‌3.7% in September, up ​from 3.4% in August, BLS said.

(Reporting by Dan Burns and Susan Heavey; Editing by Paul ‌Simao)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Matador (MTDR) PT Raised to $65 at Truist Securities; 'Strong Execution to Continue'
• Televisa’s AT&T Mexico deal boosts its challenge to America Movil
• Pilgrims caught up in Houthi strikes on Saudi Arabia