Americans who get Social Security will get a 0.3% increase in their monthly checks in 2017, the government said Tuesday.
The estimated average monthly benefit for all retired workers will rise to $1,360 from $1,355, the Social Security Administration said.
Annual increases in Social Security are made every year based on changes in a component of the consumer price index known as CPI-W. Inflation has been quite low for several years largely owing to a plunge in oil prices. Grocery prices have also fallen in the past year.
keyboard shortcuts: V vote up article J next comment K previous comment