(OTTAWA) Families eligible for the Canada child benefit received an indexed benefit on Thursday, to take into account the rising cost of living.

Most federal benefits and credits rose 6.3% this month, to match the pace of inflation from the previous year.

Families can receive an annual total of up to $7,437 per child under age six, and $6,275 per child age six through 17.

The Liberals mark the Canada child benefit on Thursday to mark its seventh anniversary – the benefit was announced in their first budget, in 2016.

Prime Minister Justin Trudeau traveled to southeastern Ontario on Thursday to talk to families about the impact of the benefit, which he says has reduced poverty across the country.

According to Statistics Canada, 7.4% of Canadians lived in poverty in 2021, up from 12.9% in 2016, when the Canada Child Benefit was introduced.