Cost Of Living Increase 2024 Ontario 2024. This calculator uses monthly consumer price index (cpi) data from 1914 to the present to show changes in the cost of a fixed basket of consumer purchases. Old age security payment amounts are reviewed each year in january, april, july and october to ensure they reflect cost of living increases, as measured by the consumer.
As expected, the cost of living will increase by 2% in 2024 and the government has done a lot to keep the costs down. Ontario is increasing its minimum wage to $17.20 an hour on oct.