Friday, February 21, 2014

Denver-Boulder-Greeley CPI up 2.7 percent in second half of 2013, driven by rent and fuel

During the second half of 2013, the consumer price index in the Denver-Boulder-Greeley area was up 2.8 percent compared to the second half of 2012. The first graph shows the year-over-year change in the Denver-Boulder-Greeley CPI going back to 2000. We can see that the CPI growth is well within the usual range over the past decade:

The second graph shows the growth from each period to the next. (The most recent period is the change from the first half of 2013 to the second half of 2013):

In this case, we also see a moderate change. From the first half of 2013 to the second half of 2013, the CPI rose 1.4 percent. 

Within the index's component, found here, we see that the categories showing the largest increases in prices were energy and housing, with rent up 7.3 percent (year over year) and fuels and utilities up 13.7 percent over the same period. Division of Housing data showed a 6.4 percent increase in the average rent from the 4th Q of 2012 to the 4th Q of 2013. 

Given that both are essential items, these increases can have a significant effect on household budgets. 

The Denver Post reported on this yesterday.