US Labor Statistics Cancels October CPI Report Due to Government Shutdown

Post by : Bianca Suleiman

The US Bureau of Labor Statistics announced the cancellation of the October consumer price index release, citing disruptions in crucial data collection caused by the recent government shutdown. This decision, made public on Friday, November 21, is unusual as the agency typically provides these key monthly indicators.

The Bureau highlighted that while many parts of the CPI are based on nonsurvey data sources, the reliance on field visits and household surveys was hampered. Although some data sets are recoverable post-shutdown, significant gaps remain, leading to the report's cancellation. The October figures will be released alongside November's data in the coming month.

In addition, the October employment report has also been scrapped for the same reasons. The October non-farm payrolls will still be released with the November employment report on December 16, but the unemployment rate for October will not be disclosed at all, as it relies on time-sensitive household surveys.

The CPI compilation process necessitates timely field visits to retailers, including supermarkets, and interactions with households, which are crucial for ensuring accurate data. Employment statistics have similarly suffered from the shutdown, preventing many necessary surveys from occurring during this period.

Furthermore, the Bureau has adjusted its schedule for other major forthcoming releases. The November CPI report was initially slated for December 10 but is now pushed to December 18. The third-quarter Employment Cost Index, a vital measure of labor costs, remains scheduled for release on December 10 as planned.