Oct. 24 (UPI) -- The Bureau of Labor Statistics is set to release the Consumer Price Index report Friday, two weeks after calling back economists and other employees to prepare the document despite the government shutdown.
The CPI report was originally scheduled to be published Oct. 15, but the shutdown delayed work. However, federal law requires the Social Security Administration to make its cost-of-living adjustment annually based on inflation from the third quarter.
That adjustment, known as COLA, must be published by Nov. 1, though it was originally expected to be released in mid-October.
The BLS called back economists and IT specialists to prepare the report the second week of October.
Economic experts expect Friday's report will show that inflation has risen to its highest level since May 2024 -- 3.1%, ABC News reported. The Federal Reserve's target annual inflation rate is 2%.
