Cola Increase 2024 Inflation Rate. The august 2024 consumer price index report shows a 2.5% increase in average prices over the last 12 months, down from 2.9% in july. The senior citizens league said wednesday that the social security cost of living adjustment, or cola, will likely be 3.2% for 2024.
The cola estimate for july was an estimated 2.63%. A rapid increase in u.s.