Social Security benefits will increase by 3.2% in 2024 as inflation moderates ...Middle East

WASHINGTON (AP) — Millions of Social Security recipients will get a 3.2% increase in their benefits in 2024, far less than this year’s historic boost and reflecting moderating consumer prices. The cost-of-living adjustment, or COLA, means the average recipient will receive more than $50 more every month beginning in January, the Social Security Administration said Thursday. The AARP estimated that increase at $59 per month. “This will help millions of people keep up with expenses,” said Kilolo Kijakazi, Social Security’s acting commissioner. About 71 million people — including retirees, disabled people and children — receive Social Security benefits. Thursday’s announcement follows this year

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Social Security benefits will increase by 3.2% in 2024 as inflation moderates ...Middle East

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