Consumer Price Index Update of Boskin Commissions Estimate of Bias

The Consumer Price Index (CPI) is the principal measure of trends in consumer prices & inflation. The CPI affects Federal revenues & spending because automatic cost-of-living adjustments to Fed. tax brackets & many Federal benefit programs are calculated based on changes in the CPI. In Dec. 1996, the Boskin Commission (BC) issued a report estimating that the CPI overstates changes in the cost of living by 1.1% points annually. This report identifies the changes made to the CPI since Dec. 1996, & presents the opinions of the 5 former BC members on how much of the bias in the CPI that the BC estimated in its report remains after recent changes to the CPI.Kingsbury, Nancy R. is the author of 'Consumer Price Index Update of Boskin Commissions Estimate of Bias' with ISBN 9780756705800 and ISBN 0756705800.