Gwen Zahara

Cost Of Living Increase 2024 Estimate. Essentials like groceries have seen notable increases in price recently, meaning people have to spend more. The cola for 2022 was 5.9%.

The social security cost of living adjustment (cola) for 2024 will likely be 3.2% based on a jump in consumer price data through august. Starting in january, social security benefit payments for 66 million beneficiaries will rise 3.2% to keep up with the cost of living, the social security administration said thursday.