India, Sept. 12 -- For millions of Americans, the annual Social Security cost-of-living adjustment is more than a percentage announced by the government; it can determine how much money is available for groceries, housing, medical bills and other everyday expenses. And with inflation still a strain on household budgets, even a relatively small increase could be felt in 2027. Social Security beneficiaries could see an increase of around $70 or more in monthly benefits, according to current estimates, but the actual amount is still unknown.

Could Social Security benefits increase by $70 or more in 2027?

The latest estimates point to a 2027 COLA in the neighbourhood of 3.4% to 3.6%, depending on the forecast being used. The Senior Citizens...