A bill to require a commission to study ways to improve the accuracy of the consumer price indexes and to immediately modify the calculation of such indexes.

Establishes a commission to study ways to improve the accuracy of the consumer price indexes in stating the rate of inflation.

Requires the commission to submit a report to the Secretary of Labor and the Congress which contains a detailed statement of the findings and conclusions of the commission, together with recommendations for such legislation and administrative actions it considers appropriate. Authorizes appropriations.