GOVERNMENT: Out of Plumb

When the Bureau of Labor Statistics announced last week that the cost of living index had risen another 0.5% in the month ending Sept. 15, it added a comforting note. The price of food, said BLS, went down 0.2%. But consumers, who have noticed no discernible drop in food prices, had reason to wonder: How accurate is the index? Last week, stocky, rumpled Ewan Clague, commissioner of Labor Statistics confessed that consumers have a point. The BLS index is out of plumb, and he has started to true it up.

Since the basis for computing the index was revised ten...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!