Consumer Price Index: Update of Boskin Commission's Estimate of Bias

Pursuant to a congressional request, GAO provided information on the Advisory Commission to Study the Consumer Price Index's (CPI) updated estimate of CPI bias, focusing on the: (1) methodological changes the Bureau of Labor Statistics (BLS) made to the CPI since December 1996, when the Advisory Commission (also referred to as the Boskin Commission) issued its final report; and (2) opinions of the five former Boskin Commission members on how much of the bias in the CPI that the Commission estimated in its December 1996 report remains after recent methodological changes to the CPI.