Economic Variables Underlying Fiscal Year 2023 Appropriations Requests for Legislative Branch Agencies
Report
The increase in the consumer price index for urban wage earners and clerical workers for FY 2023 is projected to be 2.8 percent. The change in the employment cost index for wages and salaries from Sept. 2020 to Sept. 2021 was 4.6 percent.
The staff of the House Appropriations Subcommittee on the Legislative Branch have directed legislative branch agencies, when they are making their requests for appropriations for fiscal year 2023, to use certain variables from the Congressional Budget Office’s economic forecast to calculate a cost-of-living adjustment and increases in program expenditures.
To that end, CBO is providing the following estimate, which is based on data available as of December 13, 2021: The increase in the consumer price index for urban wage earners and clerical workers for fiscal year 2023 is projected to be 2.8 percent. Also, the reported change in the employment cost index for wages and salaries from September 2020 to September 2021 was 4.6 percent.
