The release date for the U.S. September CPI report has been set! October 24, nine days later than originally scheduled

The U.S. Department of Labor has recalled some staff to compile a key consumer inflation report amid the ongoing federal government shutdown.

On Friday local time, media reports cited a White House official stating that the Bureau of Labor Statistics (BLS) under the U.S. Department of Labor will "immediately resume" work on the September Consumer Price Index (CPI) data. According to the BLS, the report will be released on October 24 at 8:30 AM Eastern Time, which is a delay of 9 days from the originally scheduled date of October 15.

The U.S. Department of Labor had originally suspended work related to the CPI report under the shutdown contingency plan. The CPI report tracks the price changes of a broad basket of goods and services over time. However, the U.S. Social Security Administration needs the CPI data for the third quarter to calculate and announce the annual cost-of-living adjustment (COLA) before November 1. Typically, the Social Security Administration announces the COLA adjustment shortly after the BLS releases the September CPI.

Due to the federal government shutdown caused by a funding impasse, other data releases from the Bureau of Labor Statistics, including the non-farm payroll report, have also not been published as scheduled.

On Thursday, the U.S. Senate failed for the seventh time to pass a funding bill, resulting in the continuation of the government shutdown that began last week.

The latest release date for the September CPI also coincides with the Federal Reserve's FOMC policy meeting on October 28-29. Investors generally expect that Federal Reserve officials will cut interest rates again, but some decision-makers remain cautious due to inflation rates still being significantly above target levels