2024 Cost Of Living Increase For Employees. Executive order number 14113, dated december 21, 2023, authorizes an average 5.2 percent increase (combination of the base of 4.7 percent and a locality of 0.5 percent, for a. And while inflation is expected to drop below 2.5% in 2024, according to the.

Now that the final data have been announced on the inflation rate for the third quarter of 2023, we know the 2024 cost of living adjustment (cola) for federal retirees will be. Employers are planning for 3.5% pay.