October's arrival means SNAP benefits will increase for SNAP recipients. These benefits increase annually as a way of helping individuals in the program to keep up with the rising cost of living. This annual boost also helps families to continue to be able to afford essential groceries.
SNAP recipients do not even need to worry about if there are any steps to take to gain these additional benefits because the benefits automatically transfer onto the EBT cards.
ABC News explains that the Supplemental Nutrition Assistance Program “adjusted the maximum allotments starting this month for the year ahead, based on the Consumer Price Index from the Bureau of Labor Statistics for June 2022.”
The Consumer Price Index, CPI, is described by the Bureau of Labor Statistics as a means to measure the “average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.”
According to Forbes, “SNAP benefits will increase by 12.5% for 12 months starting in October, compared to the year prior.”
The USDA released a memorandum of the fiscal year 2024 cost-of-living adjustments listing the maximum allotments for the 48 states, also including D.C., Alaska, Guam, and the U.S. Virgin Islands.
Maximum allotment for a family of four:
“The minimum benefit for the 48 states and D.C. will remain the same at $23.”
The memorandum also includes that the shelter cap value will increase to $672 for the 48 states and the District of Columbia.
Alaska, Guam, Hawaii and the U.S. Virgin Islands will also gain a shelter cap increase, but the specifics are not mentioned in the memorandum.