It looks like folks on Social Security will get their first cost-of-living increase since 2009 come January. That’s according to the American Institute for Economic Research (AIER).

Considering the increase in the consumer price index–the peg for changes in Social Security benefits–the researchers estimate the increase will be in the 3.5% to 3.7% range.

We should know that actual number on Wednesday, Oct. 19, or soon after. That’s when the latest CPI number comes out. The hike is welcome news for anyone living on a fixed income.