Americans who qualify for Supplemental Security Income (SSI) will receive the latest round of $841 in just two weeks.

Approximately eight million people will begin receiving benefits starting July 1, 

including senior citizens over the age of 65, handicapped adults, and children.

A monthly distribution of SSI funds is made by the Social Security Administration (SSA) on the first.

As a result of a 5.9% increase in the cost-of-living adjustment, the typical SSI claimant will receive $621 per month in benefits this year.

Per person, the maximum monthly payment is $841.

Your SSI payment will be lower the higher your income. Individuals can have only $2,000 in assets, but couples can have up to $3,000.

According to The Senior Citizens League (TSCL) and GOBankingRates, Social Security benefits have increased by 64% since 2000. 

Why is inflation so high?

Inflation is caused by a variety of factors. The first reason is the dramatic increase in oil prices that has followed Russia's invasion of Ukraine.

Due to this, the cost of gasoline and other transportation expenses has skyrocketed.

How much does inflation cost today?

As a result of rising food, fuel, and housing costs, US consumer prices reached a new 40-year high in April, 

with inflation expected to rise even further following Russia's invasion of Ukraine.

Statistics from the Labor Department reveal an 8.5% increase in consumer prices from a year ago, following a 7.9% gain in March.

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