WASHINGTON (AP) -- Social Security recipients will get a 1.4 percent cost-of-living increase in their monthly checks next year, the smallest increase in four years, reflecting a slowdown in inflation caused by the weak economy. The increase will mean an extra $13 a month for the typical retiree.
The increase, announced by the Social Security Administration on Friday, will cover the country's 46 million people receiving Social Security benefits and 7 million recipients of Supplemental Security Income, the federal government's cash assistance program for the needy.
The increase, which will show up in January Social Security checks, is down from this year's boost of 2.6 percent.
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