Social Security COLA To Be Announced, Thursday, October 12, 2023, Mid-Morning (?)

Locator: 45730COLA.

Update

October 12, 2023: 3.2%. Inflation tamed.

Original Post

Hunch: 3.2%. Anything higher will be a pleasant surprise for seniors. Anything lower will be unexpected.

The date on which the Social Security Administration will announce the COLA increase 2024 is Thursday, October 12, 2023. 

As for what time exactly the COLA increase 2024 will be revealed, we know that September's price index is scheduled to be published at 08:30 ET on Thursday, October 12, 2023. 

This is the final dataset need to complete the COLA formulas, so the exact amount can be worked out shortly after that Thursday morning announcement.

Anticipation. 

A tame inflation report on Thursday would likely kill the prospect of an interest-rate increase by the Federal Reserve at its next meeting, despite signs of continued strength in the labor market.

Fed officials are watching the consumer-price index, and other data, as they mull whether another rate hike this year will be necessary to keep inflation declining.

• Economists surveyed by The WSJ estimate consumer prices rose 0.3% in September from the prior month and 3.6% from a year earlier. That would represent cooling from the 0.6% monthly increase and the 3.7% 12-month rate in August, which was driven by higher energy prices. 
• When excluding volatile food and energy items, those economists see so-called core prices also increasing 0.3% in September, the same as the prior month’s increase and a continuation of mild readings through the summer months. They estimate core prices rose 4.1% in September from a year earlier, down from the prior month’s 4.3%.