Social Security increase now coming to Mississippi residents

Jake Wells
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Did you know that Mississippi residents are currently paying an average of $560 more⁠ each month due to inflation? Some sources say the rate of inflation is as high as 13.1%. (source) Thankfully, here's some great news for an estimated 70 million Americans in the United States who receive Social Security Income. On average, Social Security benefits have increased by $1,680 which comes out to $140 more per month for eligible recipients.

Why you're getting this increase

This new cost-of-living adjustment (COLA) is a game changer for millions of people. The purpose of the COLA is to ensure that the purchasing power of Social Security and Supplemental Security Income (SSI) benefits are not diminished by inflation. With inflation at record highs this year, it makes sense that benefits have increased 8.7% for qualifying individuals.

Additional help is available for many Mississippi residents

Even with this adjustment I mentioned above, many Mississippi residents are paying around $500 more each month. So an increase of $140 per month doesn't cover the cost of the price increases. If you need some additional assistance, you can go to the state of Mississippi benefits page here. You may qualify for many different programs such as a meal program or help from other services.

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Disclaimer: Please note that the information in this article for NewsBreak is only for educational and informational purposes.

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