In January 1983, the Bureau of Labor Statistics replaced the CPI-U measure of homeowners' shelter costs—previously based on home purchase costs, mortgage costs, taxes, insurance, and repairs—with owners' equivalent rent, based on the expected rental value of an owner-occupied home.
Sources
- Was There a Great Moderation for Inflation Volatility? (federalreserve.gov)
- Chronology of changes in the Consumer Price Index (bls.gov)
- https://www.bls.gov/opub/btn/volume-2/owners-equivalent-rent-and-the-consumer-price-index-30-years-and-counting.htm (bls.gov)
- https://www.nationalacademies.org/read/26485/chapter/6 (nationalacademies.org)
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