(NEXSTAR) – The Social Security Administration is less than two weeks away from announcing its cost of living adjustment (COLA), the percent increase in recipients' payments designed to offset inflation.

According to the latest estimates, the COLA forecast is expected to be about 2.5%, but we'll have to wait for the Oct. 10 announcement to know for sure.

The estimate comes from The Senior Citizens League (TSCL) and is based on a decline in consumer price inflation from 2.9% in July to 2.5% in August.

© The Hill