Summary
The Bureau of Labor Statistics (BLS) is calling back some workers to finish an important inflation report delayed due to a government shutdown. This report, called the Consumer Price Index (CPI), is needed to calculate annual Social Security Cost of Living Adjustments (COLA) and is also important for the Federal Reserve's decisions.
Key Facts
- The BLS is recalling employees to complete the CPI report.
- The CPI measures the cost of goods and services in the country.
- The CPI is crucial for determining Social Security COLA.
- The CPI report was originally due on October 15 but was postponed.
- The Social Security Administration needs the CPI data by November 1 for COLA.
- The government shutdown began on October 1, delaying data processing.
- The Federal Reserve uses the CPI for interest rate decisions.
- Other reports, like unemployment figures, have also been delayed by the shutdown.
