Sec. 816. Inventory of inflation and escalation indices
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Not later than September 30, 2024, the Under Secretary of Defense for Acquisition and Sustainment, in coordination with the Service Acquisition Executives, shall conduct an inventory of inflation and escalation indices currently used for contracting and pricing purposes across the Department and make the inventory available as a resource for all government and industry contracting and pricing professionals. The inventory required under paragraph (1)— shall include indices used for products and indices used for services, including accessibility instructions; may include relevant indices derived from or leveraged by commercial, academic, or nongovernmental sources; and shall separately identify indices for which the Department of Defense purchases access.
As part of the inventory required under subsection (a), the Under Secretary of Defense for Acquisition and Sustainment shall also conduct an assessment of the available inflation and escalation indices in order to determine— gaps in any available indices where identification or development of new indices may be necessary; and in instances where there are multiple indices being used— whether consolidation on a single index or smaller subset of indices is possible or advisable; and whether commercial, academic, or nongovernmental indices have any comparative benefit or advantage over governmental sources.
The Under Secretary of Defense for Acquisition and Sustainment shall periodically, and not less than once every 5 years, review and update the inventory required under subsection (a). Not later than March 30, 2025, the Under Secretary of Defense for Acquisition and Sustainment, in coordination with the Service Acquisition Executives, shall issue guidance providing for the consistent application and maintenance of data included in the inventory required under subsection
(a)for use by government contracting and pricing personnel.