Percentage Of Cost Of Living Increase 2024. In 2022, 2023, and 2024, social security's colas respectively came in at 5.9%, 8.7%, and 3.2%. Selected living cost indexes, australia, march 2024.
Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 — from $1,848 to $1,907. In the year to january 2024 the annual cpih inflation rate was 4.2%, unchanged from the previous two months.