Cola Increase 2024 Inflation Forecast. It’s not going to approach 2023’s historically high cola increase of 8.7%, but the 2024 social security cost of living adjustment is expected to be 3.2%, which if it comes to fruition would raise an average. A cola of 3.2% would raise the average monthly retiree benefit by about $59.
With a neutral inflation print in january and cautious optimism from the fed regarding economic strength, expectations for rate cuts have been adjusted to be. A cola of 3.0% would raise the current average monthly benefit of $1,787.00 by about $53.60, according to the senior citizens league.