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Social Security COLA for 2027 may jump to 4.7%, one estimate finds. This chart shows prices driving the increase

CNBC · Jun 12, 2026, 6:28 PM · Also reported by 2 other sources

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  • Consumer prices rose in May, pushing the annual inflation rate to its highest level in three years, according to new government data.
  • That points to a 4.7% Social Security COLA for 2027, according to a new estimate from Mary Johnson, an independent Social Security and Medicare policy analyst.

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Consumer prices rose in May, pushing the annual inflation rate to its highest level in three years, according to new government data.

That points to a 4.7% Social Security COLA for 2027, according to a new estimate from Mary Johnson, an independent Social Security and Medicare policy analyst. Last month, Johnson had forecast a 4.2% COLA for next year.

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