US - Bureau of Labor Statistics Tries to End Confusion Over CPI Data After Email Stirs Drama - February 29, 2024 - Consumer Confidence Takes a Hit

[sharon sanders]

BLS Tries to End Confusion Over CPI Data After Email Stirs Drama

• Agency explains housing inflation item that jumped last month
• Economists say new weighting alone doesn’t explain big move

By Matthew Boesler
February 29, 2024 at 12:54 PM EST
Updated on
February 29, 2024 at 1:38 PM EST


The Bureau of Labor Statistics on Thursday attempted to quell confusion over its latest inflation numbers after an email earlier in the week appeared to explain a puzzling surge in two-week-old figures.

The jump in a category called owners’ equivalent rent — the biggest individual component within the consumer price index — was a key reason behind the unexpected January surge. The BLS on Thursday revealed information normally kept secret: the change in how much weight single-family detached homes were given within OER, compared with multifamily units.
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more... https://www.bloomberg.com/news/arti...on-cpi-weighting-after-email-caused-confusion

 

[sharon sanders]

Confidence in economy takes another hit. Here’s what’s behind the bad vibes.

https://www.youtube.com/watch?v=YyWwe9r0UN0