Next Social Security Raise Likely Meager

But there could be an increase if higher tariffs on Chinese imports or a spike in gas prices drive up inflation in the third quarter.

An inflation rate of less than 2% may be good news for shoppers, but it’s worrisome for seniors who rely on Social Security for a large part of their retirement income.

The Senior Citizens League, an advocacy group, projects that the annual cost-of-living adjustment for benefits in 2020 will be 1.7%, or about $24 a month for the average monthly payout of $1,420.

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Sandra Block
Senior Editor, Kiplinger's Personal Finance

Block joined Kiplinger in June 2012 from USA Today, where she was a reporter and personal finance columnist for more than 15 years. Prior to that, she worked for the Akron Beacon-Journal and Dow Jones Newswires. In 1993, she was a Knight-Bagehot fellow in economics and business journalism at the Columbia University Graduate School of Journalism. She has a BA in communications from Bethany College in Bethany, W.Va.