Economists: Wyoming Inflation Rate Slightly Higher Than National Rate in Q4

Economists say Wyoming’s inflation rate for the fourth quarter of 2012 was slightly higher than the national inflation rate.

The state of Wyoming’s Economic Analysis Division says annual statewide inflation was at 2.1 percent in October through December of 2012 – the national inflation rate was at 1.7 percent over the same period.

Amy Bittner, a senior economist with the state of Wyoming, says increased housing prices are contributing to the higher inflation rate.

“Housing makes up a large part of a consumer’s budget,” Bittner said. “Housing-related costs drive higher index values and higher inflation rates.”

Of the six consumer categories measured, apparel, medical and housing costs were at least three percent higher. Food costs were 1.3 percent higher, and recreation and personal care costs were .6 percent higher in Wyoming compared to 2011.

Transportation costs declined, however. The state estimates that, on average, transportation costs dropped one percent compared to figures from 2011.