New Delhi, Sept. 12 -- Millions of Americans who rely on Social Security payments can likely expect an increase in their monthly benefits in 2027, as the cost-of-living adjustment (COLA) could be around 3.5 per cent to 3.6 per cent, potentially making it the highest in three years.

CNBC reported the new estimate on Friday (local time), citing Mary Johnson, an independent Social Security and Medicare policy analyst. Johnson said the 2027 Social Security COLA may be 3.5 per cent, factoring in the latest consumer price index (CPI) data released on Friday. She added that how the estimated COLA changes will depend on volatile oil prices, which have had a significant impact on inflation since the US-Iran war began in late February.

Earlier in...