2024 COLA Update

297.730 – 291.90) / 291.90 x 100 = 1.99 adjusted to the nearest 1/10 of 1 percent =

Based on the CPI-W for April 2023 (297.730), the 2024 COLA will be 2%.

If inflation declines over the next several months the COLA will be less.


  1. True, but from Dec 2022 thru Apr 2023, the CPI-U data shows an Annual Inflation rate of 6.4%, in a rather straight line fashion. Assuming a 5% inflation rate thru Sept 2023 and applying
    the equivalent monthly rate to the Apr 2023 CPI-W value to calc the Jul-Aug-Sept CPI-W values, gives a COLA of 3.2%.


      1. Don’t think too much higher, maybe 3.5%. CPI-U/W is slowly decreasing so a 5% annual rate for May to Sept is a good estimate. Hard to see how CPI-U/W will decrease in the next 5 months, so the 2% seems the lower bound. Either value is a significant decrease from the 2022 COLA, 20% to 40% of the 2022 value.


  2. How much will Medicare Part B increase and reduce the net COLA? We will not be as fortunate as this year when Part B went down.


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