CPI increases mortgage payment?

Maybe one of the mortgage folks can help out with this question from a reader in Charlottesville. I have never heard of such a thing before:

I recently received an escrow statement from my lender telling me that my monthly contribution to escrow was going to increase because the CPI (consumer price index) was up 2.1%

In response to my query questioning whether this was in relation to the recent reassessments:

Citibank (they bought the original mortgage) holds the note.

I thought about the recent reassessment, but 1) It’s not yet ‘official’, right? Isn’t there a comment period before it’s set in stone? 2) The lender didn’t mention it as a reason for the increase – just cited CPI.

CPI? Really?

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