BLS Email Hints Housing Data Shift May Keep Inflation High

• Email from Bureau of Labor Statistics employee explains technical change in housing data calculation, implying recent pop in prices not a fluke • Email sent to small group of "super users" who closely watch obscure economic data that impacts inflation forecasts and Fed policy • Unexpected jump in January housing costs puzzled Wall Street economists, some contacted Bureau for explanation before email • Email language clearly suggested methodology shift could keep inflation higher longer than expected • Raises questions around how widely sensitive economic data and methodology changes are shared by government agencies