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Every December, the ERS calculates the rate to be used to determine COLA factors granted to most protective service members based on the Consumer Price Index – All Urban Consumers (CPI-U). In November of 2023, the index was 307.051 as compared with 297.711 in November of 2022, an increase of 3.1373%; however, increases are capped at 3%.
Accordingly, COLA increases granted in calendar year 2024 to those protective service members whose COLA is determined by the CPI-U will be 3.0%.
The CPI COLA is calculated using the Consumer Price Index – All Urban Consumers data. The CPI statistics can be found on the U.S. Department of Labor Statistics website.