Contrary to what we stated in our post reviewing AARP’s description of chained CPI, the Bureau of Labor statistics continues to track an experimental version of the consumer price index intended to help account for differences in spending patterns among older Americans.
The correction has no impact on the evaluation of the AARP presentation, nor does it affect our statement that we haven’t located any solid data to support claims that CPI-E better measures changes to the cost of living for retired persons than does chained CPI.
As of 2012, the BLS still considers the CPI-E an experimental index best used with caution:
Although the CPI-E indicates a slightly higher overall inflation rate for older Americans compared with the official CPIs, it is important to note that the CPI-E is an experimental index, so any conclusions drawn from it should be used with caution. There are several reasons that the CPI-E is considered an experimental index.
We apologize for the error.