Extension without change of a currently approved collection
No
Regular
Approved without change
06/09/2024
01/17/2024
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
06/30/2027
36 Months From Approved
06/30/2024
665,182
0
739,645
63,740
0
69,945
0
0
0
The Producer Price Index (PPI), one of the Nation's leading economic indicators, is used as a measure of price movements, as an indicator of inflationary trends, for inventory valuation, and as a measure of purchasing power of the dollar at the primary market level. It also is used for market and economic research and as a basis for escalation in long-term contracts and purchase agreements. The purpose of the PPI collection is to accumulate data for the ongoing monthly publication of the PPI family of indexes.
US Code:
29 USC 2
Name of Law: Collection, Collation and Reports of Labor Statistics
PPI has observed a decrease in the total number of respondents (15,945 to 15,412) resulting in a decrease of total burden hours requested (69,945 to 63,740). The decline in the total number of PPI respondents is due to a combination of factors, including a reduction in sample sizes, a downturn in respondent cooperation during initiation, an increasing rate of attrition for repricing respondents, and data collection challenges associated with the COVID-19 Pandemic. Additionally, the PPI implemented a more aggressive timeline (from 18+ months to 12 months) for removal of long-term non-respondents from respondent totals.
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.