![Social Security Benefits To Jump By 8.7% Next Year](https://townsquare.media/site/101/files/2014/07/social-security.jpg?w=980&q=75)
Social Security Benefits To Jump By 8.7% Next Year
WASHINGTON (AP) — Millions of Social Security recipients will get an 8.7% boost in their benefits in 2023.
That’s a historic increase and welcome news for American retirees and others — but it’s tempered by the fact that it’s fueled by record high inflation that’s raised the cost of everyday living.
That means the average recipient will receive more than $140 a month extra beginning in January.
The cost-of living adjustment is meant to help cover the higher cost of food, fuel and other goods and services.
But a separate government report Thursday showed prices accelerating again.
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Mitch Sorensen, the owner of 307 Motors, announced on Friday that he has purchased the old Furniture Warehouse building, located at 1701 E. Yellowstone Highway, and the furniture has got to go!
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