DENVER (KDVR) — Inflation is at least leaving one consumer product alone.
Marijuana prices are less than half what they were only a year ago. The Colorado Department of Revenue publishes quarterly prices for a pound of marijuana bud, trim, seeds and whole plants. With few exceptions, prices for marijuana have steadily sunk since 2021.
The price for a pound of marijuana bud was $709 on July 1 — less than half the price in January 2021.
Prices have been low before. In October 2018, the price for a pound of marijuana was $759 following a long slide in prices from the opening legal price.
Industry representatives have spoken of a slowdown in sales they say will compromise the public projects marijuana taxes support, including schools and social services.
Through July 1, Colorado’s marijuana state tax revenue has slowed to levels unseen since March 2020. The state collected only $27.7 million worth of marijuana taxes and fees in June.
Still, state tax revenue is higher now than at any point before the pandemic. Tax intake has only slowed relative to the records set during the last two years.