INSIGHT · US
Federal Reserve examines measurement of software and AI tool inflation
Federal Reserve published research on how to measure 'Computer Software and Accessories' inflation. Reflects concern that CPI may undercount software/AI cost inflation, masking true depreciation.
WHY IT MATTERS
If AI costs are not captured in CPI, Fed inflation readings miss true pricing power of tech vendors. Banks must separately model AI capex/opex inflation in stress tests.
Source: Federal Reserve · 2026-05-22