Inflation is the highest the nation’s seen since the 1980s with consumer prices increasing 7% over the last year. It’s even bleaker in the Mountain West.
Las t We dnesday , the Bureau of Labor Statistics put out a report that outlined consumer spending increases in the 12 months ending in December. Broken down by region, the Mid-Atlantic saw a 5.8% increase in consumer prices in 2021, the lowest increase in the nation. Similarly, New England’s rose by 6.2%.
But the inflation rate in the Mountain West jumped 8.6%. That includes Montana, Idaho, Wyoming, Utah, Nevada, Colorado, New Mexico and Arizona.
Inflation is surging across the U.S., but how bad you’re hit likely depends on where you live — and how much money you make https://t.co/j6Z9EfMAdx— Bloomberg Economics (@economics) January 16, 2022
Why is our dollar not going as far? Some driving factors include the rising costs of food, transportation and energy, including gas and electricity.
This story was produced by the Mountain West News Bureau, a collaboration between Nevada Public Radio, Wyoming Public Media, Boise State Public Radio in Idaho, KUNR in Nevada, the O'Connor Center for the Rocky Mountain West in Montana, KUNC in Colorado, KUNM in New Mexico, with support from affiliate stations across the region. Funding for the Mountain West News Bureau is provided in part by the Corporation for Public Broadcasting.