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CPI Seasonal Adjustment Revisions

US
  • The BLS from 0830ET releases its annual recalculation of seasonal adjustment factors and their resulting SA indexes for the CPI basket through Jan’18-Dec’22. [Separate to the new weights that will come with the January data on Tue]
  • There’s obviously no guarantee of the same pattern this time but looking at last year’s recalculation for perspective, the latest three months of core inflation were unrevised on a rounded basis although the two months prior were revised a tenth higher in M/M – see table using values provided by Bloomberg.
  • BLS notice on the matter: https://www.bls.gov/cpi/notices/2023/seasonal-adjustment.htm

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