Cost Of Living Increase 2024 Estimate.  — a chart of the 2024 cola figures can be found here. The purpose of social security colas is to help beneficiaries maintain their buying power as inflation drives the cost of living upward.

Bureau of labor statistics (bls), consumer prices rose 3.2 percent from february 2023 to february 2024, with the cost of food specifically increasing 2.2.  — the rising cost of living and unexpected bills have meant an estimated 5.8 million australians have struggled to make debt repayments in the last 12 months.