JACKSON HOLE, WYO – The Cost of Living Index for the Second Quarter of 2018 is out, showing a 3.3 percent increase in annual inflation across the board. In most counties, cost of living was actually down compared to 2017 2Q.
The State of Wyoming Economic Analysis Division released the latest data comparing inflation over six consumer categories to derive a Wyoming Cost of Living Index (WCLI).
Statewide annual inflation rates by consumer category for the second quarter of 2018: Transportation (8.7%), Apparel (6.6%), Medical (3.6%), Housing (2.1%), Food (2.1%), and Recreation & Personal Care (-0.3%).
Teton County was again off the charts with a 158 Comparative Cost of Living Index rating, meaning Teton County residents faced 58 percent higher costs for all goods than the statewide average in the quarter. Sublette was next highest at 106.
The Housing category carries the largest weight in a consumer’s budget and typically drives the overall Comparative Cost of Living Index values. CCLI data was also produced by consumer category for every county. Counties with Housing category index values above the statewide average in the second quarter of 2018 included Teton (212), Laramie (107), and Sublette (105).
Counties with lower All Items Comparative Cost of Living Index values in the second quarter of 2018 included Washakie, Niobrara, and Big Horn. These counties have small, rural populations and typically show lower All Items Comparative Cost of Living Index values.
How the numbers were derived
The Wyoming Cost of Living Index (WCLI) consists of two parts, Inflation, which measures year-over-year change (annual) and the Comparative Cost of Living Index which compares each county’s cost of living in one period (not over time) to the statewide average. The inflation figures for the second quarter of 2018 represent the percent change in the price level of a standard basket of selected consumer items priced in the second quarter of 2018, compared with the price level of the same goods recorded one year ago (second quarter of 2017).
The Comparative Cost of Living Index represents each county’s price level compared to the statewide average (100) during a single time period, in this case, the second quarter of 2018.
Read the full report – Cost of Living index 2Q 2018
