To require the establishment of a Consumer Price Index for Elderly Consumers to compute cost-of-living increases for Social Security and Medicare benefits under titles II and XVIII of the Social Security Act.

Consumer Price Index for Elderly Consumers Act of 2005 - Directs the Bureau of Labor Statistics of the Department of Labor to prepare and publish a monthly Consumer Price Index for Elderly Consumers (CPI) that indicates changes over time in expenditures for consumption which are typical for individuals aged 62 years of age or older. Authorizes appropriations. Amends titles II (Old...