DENVER (KDVR) — Colorado’s regional inflation is better than the nation’s, but not by much.
Inflation has slowed in the last several months but remains at record highs. On Tuesday, the U.S. Bureau of Labor Statistics released its latest Consumer Price Index report, which details the increase in consumer goods across the U.S.
The index has risen 8.3% across the U.S. from last August. While this is the second decrease in a row, it went above the 8.1% inflation some economists predicted.
Colorado-specific inflation numbers won’t be out until next month, but regional data says the West is weathering inflation just a hair better than the rest of the nation, although certain items have gone up in price even more.
The West includes Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington and Wyoming.
The West’s inflation rate was 8.1% in August, two-tenths of a percent lower than the U.S.
Inflation in the West region had been surpassing the national rate through the late 2010s. They rose together beginning in 2021 and have been more or less in lockstep from month to month.
The West has fared better than the U.S. in some measurements, but its housing costs overshoot the nation’s.
Gasoline costs rose the highest of the core prices with a 25.6% rise nationally and a 24.3% rise in the West region. Food rose by 11.4% in the U.S. and 10.8% in the West. The West’s shelter inflation, however, was 6.7% compared to 6.2% nationally.