The Impact of the CPI Revision on 2001 Inflation Adjustments Affecting Individual Taxpayers
Posted: 6 Oct 2000
On September 27, 2000, the Bureau of Labor Statistics (BLS) announced that revisions in Consumer Price Index (CPI) data for the January-through-August 2000 period would be necessary. The revisions correct an error discovered in the software used to calculate the residential rent and owner's equivalent rent components of the index. The revised data, which were released on September 28, 2000, affect the initial estimates of 2001 inflation adjustments to the individual income tax system published in Tax Notes, Sept. 25, 2000, p. 1659. This report supplements the previous article by identifying items changed by the CPI revision.
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