Labor Seeks OK for Rent Surveys in Inflation Tracker
Published Date: 3/7/2025
Notice
Summary
The Department of Labor is asking for public feedback on a survey that helps track housing costs for the Consumer Price Index (CPI), which measures inflation. This affects landlords, renters, and businesses providing rental info. Comments are open until April 7, 2025, and the survey helps keep inflation data accurate without adding extra costs.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Households Asked to Provide Housing Price Data
The Bureau of Labor Statistics will collect housing price information from individuals or households: the notice estimates 74,642 respondents and 107,323 responses with a total annual time burden of 9,976 hours and total annual other costs of $0. The collection is submitted under OMB Control Number 1220-0163.
Supports Accurate CPI Shelter Measurement
The collected rental-unit price data are described as essential for the timely and accurate calculation of the shelter component of the Consumer Price Index (CPI). The CPI is then used as a measure of inflation, an indicator of government economic policy effectiveness, a deflator for other economic series, and as a means of adjusting dollar values.
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