Cola Increase For 2024 Inflation Rate. The senior citizens league updated its expectations for the 2025 cola after may's inflation reading came in better than expected. Cpi inflation is pegged at 4.9.

Inflation for fiscal 2024 stood at 5.4 per cent, at par with the central bank’s forecast. With the expected adjustment for cost of living for 2024 at 8.7%, if you give an employee an annual salary increase of $10,000, you will need to adjust that amount.