The U.S. Bureau of Labor Statistics is the principal Federal agency responsible for measuring labor market activity, working conditions, and price changes in the economy.
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The Bureau of Labor Statistics said it was canceling the release of the October consumer price index, leaving the Federal Reserve without a key piece of inflation data to ponder when it next decides on interest rates on Dec. 10.
The CPI data, previously scheduled to be released on Nov. 7, was canceled because the government shutdown made it impossible for the BLS to “retroactively collect” certain parts of survey data, the organization said on its website.
November’s CPI data, previously scheduled to be released on Dec. 10, will now be released on Dec. 18 after the Fed decision, the BLS said.
Bureau data collectors compile the index through several methods, including personal visits and phone calls that were not possible during the shutdown. The BLS also uses online data and household surveys that also would make it difficult to retroactively collect information.
Fed officials have voiced concerns about being in a data fog as they try to formulate monetary policy. The central bank’s Federal Open Market Committee approved a quarter percentage point rate cut in late October, but minutes from the meeting reflected worries over getting an incomplete picture.
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