Social Security 2024 Cost Of Living Increase 2024.  — more than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. This would be below the 2024.

 — though a 2.5% hike would be less of an increase than the 3.2% received in 2024, it falls roughly within the bounds of the historical norm, which has averaged at. The august 2024 consumer price index report shows a 2.5% increase in average prices over the last 12 months, down from 2.9% in july.