Aug 11, 201712:54 PMBlog

Local inflation twice U.S. average

Aug 11, 2017 - 12:54 PM

The federal Bureau of Labor Statistics today issued its latest Consumer Price Index summary and it reports local prices are trending upward at a 3.0 percent annual rate for Seattle-Tacoma-Bremerton.

This 12-month increase through the end of June is two times the CPI climb recorded for the average of all U.S. cities. It is also higher than in any West Coast city, except San Francisco-Oakland-San Jose.

The higher Western Washington inflation is almost entirely due to more rapid growth in shelter costs. During the year, shelter costs in Seattle rose 6.3 percent, compared to 3.3 percent for the nation. Excluding shelter, Seattle inflation was close to the national average at 1.2 percent compared to 0.8 percent.

Consumer prices paid by urban consumers nationwide rose 0.1 percent in July on a seasonally adjusted basis. Higher costs for shelter, medical care and food offset a slight decline in energy prices. Recreation, apparel, motor vehicle insurance and airline fares all rose last month, while sagging prices for new and used vehicles, communications, and household furnishings almost offset the increases.

You can see more details by spending category at this link.

            

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