- The Social Security COLA of 1.6% for 2020 is well below this year’s increase of 2.8%, reflecting the dip in overall U.S. inflation this year.
- The variable interest rate for U.S. Series I Savings Bonds will rise to 2.02% on November 1, up from the current 1.4%.
- While overall inflation is being driven down by falling energy prices, core inflation is still running at a solidly-moderate rate of 2.4%.
This is the most important inflation report of the year because it provides the final pieces of data needed to determine the 2020 cost-of-living adjustment for the nation’s 67 million Social Security beneficiaries. It also sets in stone the next inflation-adjusted variable rate for U.S. Series I Savings Bonds.