A bill to provide for the monthly publication of a Consumer Price Index for the aged which shall be used in the provision of cost-of-living benefit increases authorized by title II of the Social Security Act.

Directs the Secretary of Labor, through the Bureau of Labor Statistics, to prepare a "Consumer Price Index for the Elderly". States that the Index shall be a statistical measure of the changes in the prices of goods and services bought by individuals, as a group, who are 65 years of age or older or are otherwise entitled to monthly benefits under Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act.