Current Cost Of Living Increase 2024. The annual inflation rate for the united states was 3% for the 12 months ending june, compared to the previous rate increase of 3.3%, according to u.s. Discover how expenses vary across the united states and find insights to manage your finances better.

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. These adjustments are called cost of living adjustments, or cola.