Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Social Security benefits look poised for a so-called "Trump Bump" in 2027. But if that sounds like good news, it isn't.
In fact, some could call it a symptom of President Donald Trump's failed economic policy and geopolitical misadventures. That's because the Trump bump originates from Social Security's annual cost-of-living adjustment or COLA. Every year, the agency adjusts the benefit payments to keep up with cost-of-living increases, and this year inflation is hot enough to justify a larger adjustment.
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one JPMorgan still sees gold hitting $5,000/oz by Q4 — and savvy investors are protecting their wealth with a tax-advantaged Gold IRA. Learn more with a free guide from Priority Gold The tax breaks in Trump's 'big beautiful bill' expire after 2028 — and experts say most people won't act in time. What to do before the window closes Here's a closer look at what millions of beneficiaries can expect in the months ahead.
Donald Trump's invasion of Iran and the subsequent closure of the Strait of Hormuz has caused global oil prices to surge. In the U.S., the national average gas price is currently $4.04 according to AAA (1). Higher fuel prices are having a knock-on effect on all other aspects of the economy, and monthly inflation tripled in March, according to CNN (2).
As of July 2026, inflation sits at 3.4%. High gas prices, inflation, the ongoing trade war and import tariffs on various countries are all working together to squeeze ordinary consumers. Fortunately, retirees who depend on Social Security benefits receive an annual COLA to offset some of this impact.
Read More: Millionaires under 43 hold only 25% of their wealth in stocks. Here's where their money is actually going With the 2027 COLA announcement expected in October, early projections are coming in higher than the 2.8% raise seniors received in 2026 (3). The Senior Citizens League (TSCL) (4), a nonpartisan senior advocacy group, currently pegs the 2027 adjustment at 3.3%.
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