Social Security recipients just got their biggest pay bump since 2011

Seniors rally for protecting social security.
(Image credit: Alex Wong/Getty Images)

The average Social Security recipient will receive a roughly $25 boost in their monthly check in 2018, per a modest increase announced by the Social Security Administration on Friday. This change will affect over 66 million Americans who rely on monthly Social Security payments.

The overall 2 percent increase in Social Security is the largest increase since 2011, when the benefit was bumped 3.6 percent, but it still falls below the percentage predicted by officials earlier this summer.

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COLA is based on Consumer Price Index changes for things like rent, clothes, food, and medical costs. Overall, consumer prices increased slightly this year, but Hurricanes Harvey and Irma caused gasoline prices to sharply increase after wreaking havoc on the Gulf region, said Max Gulker, senior research fellow at the American Institute for Economic Research, in an interview with ABC News.

Social Security affects a large portion of Americans. Payments are made to senior citizens over 65, the disabled, and orphans. Some advocates for senior citizens argue that this year's 2 percent increase does not match rising medical costs for most seniors.

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Elianna Spitzer

Elianna Spitzer is a rising junior at Brandeis University, majoring in Politics and American Studies. She is also a news editor and writer at The Brandeis Hoot. When she is not covering campus news, Elianna can be found arguing legal cases with her mock trial team.q