Cola 2024 Prediction Social Security Rate. Historically speaking, that's actually not so low for a cola. Inflation is high but slowing down, which means social security recipients will.

A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024.