- Social Security payments will increase 1.3% in January, adding about $20 a month for the average recipient. However, a hike in Medicare premiums could wipe out part of that increase.
- The inflation-adjusted variable rate for U.S. Series I Savings Bonds will be reset to 1.68% for purchases after November 1, up from the current 1.06%.
- U.S. inflation increased 0.2% in September, matching expectations. Gasoline prices held almost steady for the month.
The September inflation report, released Tuesday morning, is by far the most important report of the year, because it sets both the cost-of-living adjustment for Social Security and also the future inflation-adjusted rate on U.S. Series I Savings Bonds.