Don’t take random people’s advice at face value. You know your circumstances best.
That being said:
“I’ve done the following this year and feel my work meets or exceeds expectations. That being said cost of living has been going up quite a bit and I would like to discuss how my pay can reflect this”
Or
“What steps do you think I should take to advance my career here? What’s the best path forward to taking on more responsibility and the commensurate compensation?”
And, if you’d rather just ask in general how things are going
“I feel this and this has been going great. Are there any areas you feel I do best in? Any areas that I should work on refining?”
And if the last question doesn’t have anything then that may be a good time to ask about pay. Just the COL alone is reason enough because there’s always the option of finding a new job whose starting pay is what you want.