"According to the formula, COLAs are based on increases ... has been called substitution bias. "A fixed market basket measure like the CPI assumes that, contrary to standard economic theory ...

The Consumer Price Index “is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer ... leave them out of the equation to come up with ...

Inflation is proving stickier than expected, which could cause Fed to hit pause button on more interest rate cuts.