Seniors will see smaller boost to Social Security next year

(CNN) — Senior citizens will see a smaller boost to their social security next year.

the social security administration announced today that recipients will receive an annual cost-of-living adjustment of three-point-two percent for 2024.

That means the monthly payments will rise by an average of $59-dollars beginning in January.
it is a much smaller increase than the inflation-fueled boost of the past two years.

recipients received increases of eight-point-seven percent for this year and five-point-nine percent for last year.