Eligible families receiving the federal government’s child benefit will see an increase in their next payment this month.  

The Canada Child Benefit payments will go up as part of the annual adjustment to keep up with inflation. According to CTV News, the maximum annual benefit per child under six is set to increase to nearly $7,400. Payments for children over six will be more than $6,200. The federal benefit is designed to help parents with the cost of raising children under 18.

The first payment to include the new maximum amounts is scheduled for July 20.