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Cost Of Living For Ssa 2024. If you are in the united states, american samoa, guam, northern mariana islands, puerto rico, or the u.s. The social security administration's cost of living adjustment, or cola, is based on inflation data from the consumer price index.

Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. The change will result in an estimated social security retirement benefit increase of $50 per month, on average.