“Effective with the release of the January 2015 CPI on February 26, 2015, the Bureau of Labor Statistics (BLS) will utilize a new estimation system for the Consumer Price Index. The new estimation system, the first major improvement to the existing system in over 25 years, is a redesigned, state-of-the-art system with improved flexibility and review capabilities. In addition, this change eliminates paper in all steps of producing the CPI. The use of the Constant Elasticity of Substitution (CES) formula for initial and interim estimates of the C-CPI-U, and the new quarterly revision schedule for C-CPI-U indexes, are possible because of this new system. Also, as part of the redesign process, a small number of minor methodology changes, primarily affecting the imputation of price changes, were introduced.”