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A 2% Social Security COLA for 2020? “Fuggedaboutit”.
Dan Caplinger of The Motley Fool does not see even a 2% cost of living adjustment (COLA) for Social Security recipients to be announced this October for 2020. He notes it would take a huge run up in September prices for the average of July-September inflation to compute to a 2% COLA. The federal government takes a metric known as the CPI-W index readings for those months and then averages the three numbers together. As Caplinger states, “Many retirees were ecstatic about seeing a 2.8% raise in their monthly checks in 2019. Unfortunately for them, that’s not going to happen again in 2020.” Read full piece here.
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