Combatting Painful Inflation (CPI) Act This bill directs the National Science Foundation to commission a study on the effects of inflation. Among other requirements, the study must measure the economic impact of inflation on the American people, including an analysis of cost-of-living impacts; assess how the increase in inflation has harmed the American workforce through decreased, less valuable wages; evaluate the impact of inflation on rural and underserved communities throughout the country; and make recommendations to Congress on the impact of further government spending with regard to inflation.