COLA Watch

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The September 2021 CPI is 269.086, 6.2 percent above the FY 2021 COLA baseline. The average of the July, August, and September CPI figures is 268.421, a 5.9 percent increase. This figure is used to determine the annual adjustment to military retirement pay, Social Security, and other allotments.
 
The Consumer Price Index for October, the first of the new fiscal year, is scheduled to be released Nov. 10. The CPI baseline for FY 2021 is 253.412; the CPI baseline for FY 2022 will be 268.421. 
 
The latest COLA news:

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The calculation is made by comparing the average CPI from July through September of the current fiscal year to the average for the same months of the year prior. Remember, active duty pay raises are calculated differently.

This information is calculated from the non-seasonally adjusted Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Calculation for monthly COLA change: (Monthly CPI-Yearly baseline CPI)/Yearly baseline CPI.

Learn more about CPI on the BLS web page.