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In page Consumer price index:

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Former White House Chief of Staff Erskine Bowles and former U.S. Senator Alan K. Simpson suggested a transition to using a "chained CPI" in 2010, when they headed the White House's deficit-reduction commission.[1] They stated that it was a more accurate measure of inflation than the current system and switching from the current system could save the government more than $290 billion over the decade following their report.[1] "The chained CPI is usually 0.25 to 0.30 percentage points lower each year, on average, than the standard CPI measurements".[1]