Department of Labor September 11, 2023 – Federal Register Recent Federal Regulation Documents

The Department of Labor, through the Bureau of Labor Statistics (BLS) and, specifically, the International Price Program (IPP), is soliciting comments on its plan to improve the Import and Export Price Indexes (MXPI) estimates by using administrative trade data acquired from the U.S. Census Bureau. IPP is responsible for the estimation and publication of the U.S. Principal Federal Economic Indicator of Import and Export Price Indexes (MXPI). The IPP collects data from companies on import and export prices and estimates price indexes for nearly all goods trade and some service trade for the United States. The data are primarily collected with a business survey. After completion of extensive research, and in response to a decline in data collected through traditional survey methods, BLS plans to implement improvements to the quality and quantity of import and export price indexes in fiscal year 2025 by replacing data directly collected from the business survey with administrative trade records for select homogeneous product areas.

The Department of Labor (DOL) is submitting this the Office of the Assistant Secretary for Administration and Management (OASAM)- sponsored information collection request (ICR) to the Office of Management and Budget (OMB) for review and approval in accordance with the Paperwork Reduction Act of 1995 (PRA). Public comments on the ICR are invited.