what is the projected cola for 2024

According to multiple sources, the projected COLA (Cost of Living Adjustment) for Social Security benefits in 2024 is expected to be around 3.2% . This estimate is based on the average inflation during July, August, and September as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) . If this estimate is accurate, it would raise the average monthly retirement benefit by about $57. However, its important to note that this estimate is subject to change and the official COLA for 2024 will be announced by the Social Security Administration in mid-October.