Social Security recipients will see 2 percent boost in 2018

Average beneficiary to see $25 more per month

In this 2013 file photo, the Social Security Administration's main campus is seen in Woodlawn, Md. Millions of Social Security recipients and other retirees can expect another small increase in benefits in 2018. Preliminary figures suggest an increase of around 2 percent. That would mean an extra $25 a month for the average beneficiary. - photo by Associated Press

W socail pic — In this 2013 file photo, the Social Security Administration's main campus is seen in Woodlawn, Md. Millions of Social Security recipients and other retirees can expect another small increase in benefits in 2018. Preliminary figures suggest an increase of around 2 percent. That would mean an extra $25 a month for the average beneficiary. - photo by Associated Press

WASHINGTON — Millions of Social Security recipients and other retirees will get a 2 percent increase in benefits next year, the largest increase since 2012, thought it comes to only $25 a month for the average beneficiary.The cost-of-living adjustment, or COLA, affects benefits for more than 70 million U.S. residents, including Social Security recipients, disabled veterans and federal retirees. That's about one in five Americans.The Social Security Administration announced the COLA Friday.By law, the COLA is based on a broad measure of consumer prices generated by the Bureau of Labor Statistics. Advocates for seniors claim the inflation index doesn't accurately capture rising prices faced by seniors, especially for health care."It doesn't make your life any easier.

Associated Press

Associated Press