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Article: NEW CONSUMER INDEX TO REFLECT MARKET FORCES.(BUSINESS)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- December 1, 1996
CopyrightCOPYRIGHT 1996 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: ROBERT D. HERSHEY JR. New York Times
WASHINGTON -- A panel appointed by Congress is expected to recommend that the government create a new price gauge that would more accurately reflect inflation -- a move that would result in less generous increases in Social Security payments and other benefits but would also help lower the deficit, officials said.
One high-ranking official with knowledge of the panel's report said Friday that the proposed new index would better reflect what consumers actually buy each year.
It would largely, perhaps entirely, supplant the Consumer Price Index as the gauge used to calculate cost-of-living increases and ...