Cost Of Living Increase 2024. Your salary increase when you get a normal raise will. With the expected adjustment for cost of living for 2024 at 8.7%, if you give an employee an annual salary increase of $10,000, you will need to adjust that amount to $10,870 to account for inflation.
The cost of living adjustment rose by 3.2 percent for 2024, the social security administration announced today. โthis is a definite improvement on the 1.8 per cent increase we saw in march 2024, but unfortunately the higher number reflects increases in the cost of living.โ
