Cola Increase 2024 Prediction 2024.  — most americans cheer cooling inflation, but social security recipients worry cola for 2024 could end up less than a third of 2023's 8.7% increase.  — as previously reported by gobankingrates, a 3.0% cola would represent a big drop from this year’s cola of 8.7% — the highest since the early 1980s.

 — at this point, 2024 cola estimates are generally coming in within the 3% to 3.5% range.  — in 2023, the social security administration indicated the cola would increase by 3.2% in 2024.