Standard Cost Of Living Increase 2024

Standard Cost Of Living Increase 2024. If the cost of living rises by 5 percent and you get a 5 percent raise, you’re keeping pace and should be able to maintain the same standard of living. 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.

How to calculate an average cost of living raise. Food and energy prices rose markedly, particularly gas prices, partly in response to the.