The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by consumers for a market basket of consumer goods and services. Each month, BLS data collectors called economic assistants visit or call thousands of retail stores, service establishments, rental units, and doctors' offices, all over the United States to obtain information on the prices of the thousands of items used to track and measure price changes in the CPI. The collection of price data from rental units is essential for the timely and accurate calculation of the shelter component of the CPI. The CPI is then widely used as a measure of inflation, indicator of the effectiveness of government economic policy, deflator for other economic series and as a means of adjusting dollar values.
US Code:
29 USC 1&2
Name of Law: Design and Duties of the BLS
Factors which contributed to the decrease in estimated burden hours for FY2016-2018 compared with FY2013-2015 are the following:
⢠The target sample size is being reduced from 50,000 rental units to 43,000 units during FY2018.
⢠The entire samples in 19 Primary Sampling Units (PSUs) are being dropped during FY2018.
⢠For the 19 PSUs being dropped during FY2018, ongoing screening and initiation of new samples is ending in FY2015.
⢠For 9 additional PSUs that will be dropped during FY2019, ongoing screening and initiation of new samples will be ending during FY2016.
One factor increasing estimated burden hours is the need to screen and initiate entire new samples for 18 PSUs which are being added to the area sample. Screening and initiation will start for 6 new PSUs each year for FYs 2016-2018. These new PSUs will used in CPI calculations starting in FY2018, FY2019, and FY2020 respectively.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.