Cola 2024 Increase Announcement 2024. The cola is calculated using the consumer price. Some retirees will receive a.

The 2024 cola percentage is determined by the annual rate of inflation measured by the consumer price index (cpi), which was 4.12% for 2023. Washington (ap) — millions of social security recipients will get a 3.2% increase in their benefits in 2024, far less than this year’s historic boost and reflecting.