WASHINGTON (MarketWatch)- Americans who collect Social Security are expected to received a 2.8% increase in their monthly payouts in 2019, based on an unofficial look at how cost-of-living adjustments are calculated. That would mark the biggest increase in seven years. An official announcement should come soon. The extra benefits kick in on Jan. 1. Annual increases in Social Security are determined every year based on changes in a component of the consumer price index known as CPI-W. The final CPI report on which the calculations are made was released Thursday. Social Security recipients got a 2% cost-of-living adjustment in 2018 and 0.3% in 2017. These annual increases are meant to keep up with inflation.

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