Current Cost Of Living Increase 2024. 2023, by state basic statistic u.s. The new increase for 2024 will be 3.2%, based on september inflation figures disclosed oct.

That will add about $57 to the average current monthly social. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 — from $1,848 to $1,907.