USA Today (8/5, Powell) reports experts are predicting that the Social Security cost of living adjustment (COLA) for 2021 will be small or nonexistent.
The increases are “based on increases in the cost of living, as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W),” and the “the year-over-year increase in the CPI-W through the second quarter of 2020 is 0.15%.” That figure could decline to COVID-19-related price deflation.