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I see both sides of the coin. On one hand, the COL has risen and that is a very valid reason to have your salary adjusted. On the other hand, the inflation we’ve been experiencing has not been around long term (yet), and the hope is that all these interest increases by the fed gets it under control. If employers adjust salaries for inflation, it only makes it more likely that inflation is here to stay. Feels a little too soon for employers to make a call on if salaries need to be adjusted just yet. A sure fire reason to ask for a raise though? Your performance. If you want to make a compelling argument, best to lead with that.