Cola Increase Projections For 2024 And Beyond. Contrary to the global average of a 5.0% pay raise predicted for 2024, south africa's forecasted increase underscores the unique dynamics at play in the local. Morgan research forecasts global core inflation will remain sticky at around 3% in 2024.

12 rows the awi is used to index an individual’s earnings through age 60 in the benefit calculation formula, and the cola is used to increase benefits annually. If consumer prices in august and september 2024 stay at the same level as in july 2024, the 2025 social security cola will be 2.4%.