Cost Of Living Increase 2024 Estimate. 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 percent. Beginning in january, benefits will increase by 3.2%, or roughly $58 a month for the average.

On the other hand, independent social security and medicare policy. Consumers expect prices will climb 2.9% over the next year, up from the 2.7% expected in september and the first increase in five months, the report issued friday showed.