DENVER (KDVR) — If you’ve noticed that you’re paying more for certain things than you were last year, you aren’t alone. Data shows this is the case.
FOX31 used the Cost of Living Index, which is published by the Council for Community and Economic Research, a nationally recognized economic research organization, to see which aspects of life were more or less expensive than this time last year.
The study takes the average cost of living in the country and sets that as the standard with a score of 100. Cities with a score above that cost more than the average, and cities with a score below cost less.
Denver’s current cost-of-living score is 110.2, which means it’s 10.2% more expensive to live in Denver than in the average American city.
However, that doesn’t tell the whole story.
Using raw pricing data from the index in 2022 and 2023, FOX31 found where things have become more or less expensive in Denver over the past year.
Homeownership is slightly less expensive
A major component of the cost-of-living index is housing.
Two major things the index looks at are the average price of a newly built 2,400-square-foot house, as well as the average rent for a 970-square-foot apartment.
In Denver, the price for a house is down very slightly from 2022, from $648,187 to $642,294. Rent, however, is up slightly, from $1,809 in 2022 to 1,869 in 2023.
However, overall, housing costs in Denver have not fluctuated that much since 2022, at least according to the index.
Groceries have become more expensive
Since last year, the price of most groceries in the metro area has gone up by a decent margin.
This can hit people particularly hard in their day-to-day lives, with many kitchen staples hit by these increased prices. You can especially see the change in the average price for things like milk and eggs.
This time last year, a half-gallon of milk cost around $1.97 in Denver. However, in 2023, that price has risen to around $4.75. For a dozen eggs, the price went from $2.01 in 2022 to an average of $5.11 in 2023.
Other grocery staples have also seen increases in price since last year including sugar, which is $1.73 more expensive, and coffee, which is $1.89 more expensive.