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)
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