What Will The 2024 Cola Increase Be. The consumer price index rose 2.9% in july 2024 from a year earlier, according to the u.s. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024.

Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. The social security administration announced an 3.2% cola increase for 2024.