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What Is The Cost Of Living Increase For 2024. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024. In 2024, the cola increase for social security beneficiaries is 3.2%.

Each year, the irs, social security administration, and other federal agencies adjust policies to account for inflation. 127 rows the annual inflation rate for the united states was 3% for the 12 months ending june, compared to the previous rate increase of 3.3%, according to u.s.