2024 Inflation Rate For Social Security. The social security administration’s annual cost of living adjustment for 2024 is 3.2%, reflecting a more moderate rate of inflation than the price jumps that necessitated last. The inflation gauge used by the social security administration (ssa) to set the annual cola rose at a 2.6 percent annual rate for july and 3.4 percent for august — the first.
Social security and supplemental security income (ssi) benefits for approximately 70 million americans will increase 3.2% starting in january 2024, far less than the previous two years’ 5.9%. How much will the 2024 cola increase social security?
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