The U.S. Bureau of Labor Statistics (BLS) canceled the release of its October Consumer Price Index (CPI) report, stating that due to the previous government shutdown, it was unable to retrospectively collect some data.

The BLS stated that it could obtain some price data for that month and would "to the extent possible" publish October data within the November report. The November CPI report will be released on December 18, following the Federal Reserve's final meeting of the year. Due to the absence of October data, the data released in November will not include the monthly percentage change for that month.

It is worth noting that the outcome of the Fed's December policy meeting will be announced on the 11th of that month. Previously, the November non-farm payrolls report was rescheduled for release on December 16, meaning Fed officials will not have access to the critical November CPI report and the non-farm payrolls report before their policy meeting.

Earlier, due to similar data collection issues, the BLS decided to cancel the October employment report. Economists had pointed out that given the immense workload involved in CPI data collection, it was highly likely the index would be canceled. The BLS stated that for most non-survey data, they can perform retrospective collection.

According to Bloomberg, this is the first time the agency has abandoned the release of a monthly CPI report. The White House indicated earlier this month that the October employment and CPI reports "may never" be released.

According to the BLS, the CPI is a crucial measure of inflation in the United States, affecting the income of over 100 million people. The index primarily relies on in-person visits to retail stores and service establishments across the country to collect prices for thousands of items. This portion accounts for about 60% of the sample, while the remaining prices are collected via telephone, the internet, and third-party channels.

Although no data collectors were working during the government shutdown, BLS employees were recalled last month to produce and release the September CPI report so that the Social Security Administration could calculate its annual cost-of-living adjustment.