CHEYENNE — The fourth quarter of 2023 (4Q23) Wyoming Cost of Living Index (WCLI) is now available from the State of Wyoming, Economic Analysis Division, and the state’s inflation rate lowered since 2022, but Teton County’s cost of living is approximately 74% higher than the statewide average.
The Division produces the WCLI twice a year, for the second and fourth quarters.
The 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.
According to the Economic Analysis Division, the 2023 inflation percentage rates reflect the change in cost of the same goods and services recorded one year ago (fourth quarter of 2022). Wyoming’s 2023 inflation rose in six consumer categories: recreation and personal care 5.3%, housing 4.2%, medical 4.1%, food 3.8%, apparel 3% and transportation 2.2%. Wyoming’s statewide inflation was calculated at 3.8%, which is the lowest annual rate of inflation since the fourth quarter of 2020.
The Comparative Cost of Living Index represents each county’s price level compared to the statewide average (100) during a single period. For the fourth quarter of 2023, the Comparative Cost of Living Index ranked Teton (174) as the county with the highest All Items value, which indicates that the cost of living in Teton County was estimated 74% higher than the statewide average in the quarter.
Price data is collected in 28 cities and towns in Wyoming, and the data is used to build a Comparative Cost of Living Index by county. The WCLI estimates overall inflation rates for Wyoming, and the five designated regions of the State.
