Inflation Insights Amid Government Shutdown
The U.S. Bureau of Labor Statistics is recalling furloughed workers to release the Consumer Price Index report amid the federal government shutdown. The report, crucial for Social Security adjustments, is expected before the Federal Reserve's meeting, despite delays from its original October 15 release date.
Amid the ongoing government shutdown, the U.S. Bureau of Labor Statistics is taking steps to ensure the release of its important Consumer Price Index (CPI) report. According to reports from the New York Times and Bloomberg, some employees have been called back to work despite their furlough status.
The CPI report, initially scheduled for October 15, is now expected to be published in time for the Federal Reserve's interest-rate-setting meeting set for October 28-29, though an exact release date remains unspecified.
This report holds significant importance as it determines the annual cost-of-living adjustment for Social Security payments, crucial for millions of American retirees and beneficiaries. In light of the shutdown, authorities are taking swift actions to prevent any delays in the dissemination of this pivotal economic information.
(With inputs from agencies.)
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