The Bureau of Labor Statistics (BLS) has announced significant reductions in its data collection efforts pertaining to the Consumer Price Index (CPI), which estimates inflation rates in the U.S. Notable cities like Lincoln, NE, Provo, UT, and Buffalo, NY, have experienced complete suspensions of CPI data collection. While these measures minimally affect the overall CPI-U index, they may cause increased volatility in specific regional estimates. BLS cites insufficient resources as the reason behind these cuts, indicating a growing challenge for agencies reliant on comprehensive data coverage, which may lead to less accurate economic metrics.
The Bureau of Labor Statistics has announced a reduction in data collection methods for the Consumer Price Index, impacting certain cities and the estimate of inflation.
Budget cuts continue to pressure agencies like BLS to reduce data coverage, leading to shifts in estimates and increased volatility in subnational indexes.
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