BLS to Release September CPI Report on October 24 Amid Ongoing Shutdown
TLDR
- The BLS will publish the September CPI report on October 24 after a delay.
- The CPI data is critical for Social Security cost-of-living adjustments.
- The government shutdown forced the delay of key economic reports.
- The September CPI release is crucial for federal benefit calculations.
Despite the ongoing government shutdown, the Bureau of Labor Statistics (BLS) will release the September Consumer Price Index (CPI) report on October 24. The release, originally scheduled for early October, had been delayed due to the government’s funding lapse. The BLS plans to bring staff back to work to ensure that the critical inflation data is published on time, which is vital for calculating cost-of-living adjustments for federal benefits.
Labor Department Brings Back Staff for CPI Report
The Department of Labor will temporarily bring back BLS workers to handle the CPI data, a decision made to prevent further delays. The September CPI report is particularly crucial for the Social Security Administration, which relies on it to determine cost-of-living adjustments (COLA) for millions of federal beneficiaries. Without the report, these adjustments could be delayed, potentially affecting payments set to begin in November.
Despite the government shutdown, the BLS emphasized the importance of releasing this report. A White House official confirmed that the BLS will “promptly resume” its work on the CPI data. The October 24 release will be nine days later than originally planned but is necessary to avoid further disruption in vital federal processes.
Government Shutdown Delays Other Reports
The ongoing federal shutdown has disrupted the release of several key economic reports. Since the shutdown began on October 1, the BLS has suspended production and release of economic data, including the highly anticipated September jobs report. Without BLS data, both policymakers and investors have turned to private-sector reports to gauge economic performance.
The shutdown has also delayed the publication of other BLS reports, but the decision to prioritize the CPI report reflects its unique importance in setting federal benefit adjustments. According to a BLS statement, the department will release the CPI data in coordination with its regular reporting schedule.
CPI Data’s Role in Federal Benefits
The release of the September CPI data is especially important for Social Security beneficiaries. Every year, the Social Security Administration (SSA) uses the CPI data to calculate adjustments to federal benefits, ensuring they keep pace with inflation. Without the timely release of this data, SSA could face difficulties in implementing the necessary adjustments, potentially affecting millions of beneficiaries who rely on these payments for their livelihoods.
This need for timely data underlined the decision to bring BLS employees back to work. The importance of inflation data in the context of federal benefits has made it one of the few reports to be prioritized despite the broader impact of the government shutdown.
Political Context of the Shutdown and BLS Operations
The current government shutdown stems from disagreements in Congress over funding bills. The failure of the Senate to pass funding bills has left numerous federal agencies without operating budgets. As a result, most BLS employees were furloughed, halting the collection and publication of economic data.
The shutdown has also become a point of contention between President Trump and the BLS. Earlier in the year, President Trump criticized the agency over reports it produced, particularly those related to job growth. These critiques escalated with the firing of BLS Commissioner Erika McEntarfer, who was let go after weak job reports and significant revisions to previous employment data.
Despite the political turmoil, experts argue that the BLS’s data processes remain highly accurate and reliable. Economists stress that even with revisions and occasional weak reports, it would be challenging to manipulate BLS data given the agency’s broad dataset and its nonpartisan approach.
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