2024 Cost Of Living Increase Percentage Increase. Data from the consumer price index (cpi), a key metric from the bureau of labor statistics used to measure inflation, show that prices increased 3.2 percent between february. Organizations are predicting an average base pay increase of 4.5% in 2024, according to payscale’s 2024 compensation best practices report.

Organizations are predicting an average base pay increase of 4.5% in 2024, according to payscale’s 2024 compensation best practices report. In the year to january 2024 the annual cpih inflation rate was 4.2%, unchanged from the previous two months.