The Social Security Administration projected Wednesday that the annual cost-of-living adjustment for older adults and people with disabilities will go up by 3. 6% beginning in 2027, with some recipients complaining that is not enough to offset soaring prices.

The adjustment translates to $75 extra per month for the 73 million people who receive monthly Social Security benefits and nearly 7. 5 million beneficiaries who get Supplemental Security Income.

The announcement comes as inflation adds pressure on household budgets and businesses and as midterm elections are weeks away.