Improving Cost-of-Living Indexes and Consumer Inflation Statistics in the Digital Age

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Legislation and Policy

The Committee on National Statistics of the National Academies of Sciences, Engineering, and Medicine will appoint an expert panel to review measurement issues in the Consumer Price Index program for the Bureau of Labor Statistics (BLS) in the U.S. Department of Labor. The expert panel will carefully review the existing Consumer Price Index (CPI) measures.

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To Modernize the Consumer Price Index, BLS Should Accelerate Use of New Data Sources and Provide Price Indexes for Different Incomes, Says New Report

News Release

To modernize the consumer price index — the most widely used measure of inflation in the U.S. — the Bureau of Labor Statistics should accelerate its use of new sources of data and develop price indexes based on different income levels, says a new report.

May 3, 2022

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Improving Cost-of-Living Indexes and Consumer Inflation Statistics in the Digital Age

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To Modernize the Consumer Price Index, BLS Should Accelerate Use of New Data Sources and Provide Price Indexes for Different Incomes, Says New Report