Consumer Price Index
Commodities and Services Survey
Extension without change of a currently approved collection
No
Regular
08/24/2023
Requested
Previously Approved
36 Months From Approved
09/30/2023
323,281
336,423
113,840
121,405
0
0
The Consumer Price Index (CPI) is a
measure of the average change over time in the prices paid by
consumers for a market basket of consumer goods and services. Each
month, BLS data collectors called economic assistants, visit or
call thousands of retail stores, service establishments, rental
units, and doctors' offices, all over the United States to obtain
information on the prices of the thousands of items used to track
and measure price changes in the CPI. The collection of price data
from retail establishments is essential for the timely and accurate
calculation of the commodities and services component of the CPI.
The CPI is then widely used as a measure of inflation, indicator of
the effectiveness of government economic policy, deflator for other
economic series, and as a means of adjusting dollar
values.
The projected respondent burden
hours for FY 2024 – 2026 are 113,840 hours per year. This is a
decrease of 7,565 hours from FY 2021 to 2023. The burden has
decreased, in part, because e-commerce quotes with no direct
respondent interaction have been excluded from the
calculation.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.