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GAO Report: BLS Should Explore Ways to Improve the Accuracy, Timeliness, and Relevance of Its Cost-of-Living Measurements
U.S. Government Accountability Office [GAO] 
June 16, 2020 "Federal retirement programs often have [COLAs] to ensure benefits keep pace with inflation. This includes Social Security for more than 60 million older Americans, workers with disabilities, and their families. These COLAs are typically based on consumer price indexes for certain groups of Americans. [BLS] produces these indexes, but it hasn't evaluated whether its data accurately reflect what these groups pay, where they shop, and what they purchase. We recommended that BLS evaluate the data they use, as well as explore using other data, to improve its indexes." [GAO-20-422, Jun. 16, 2020] MORE >> |
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