By Mark Edwards
The Bureau of Labor Statistics reported virtually no inflation in Anchorage in the first half of 2016. Anchorage is the only city in Alaska where the Consumer Price Index is tracked by the Federal government. Prices for the standard “basket of goods and services” was up only 0.1% in the last six months and down 0.1% over the last year in Anchorage. Comparatively, the U.S. price index for the entire country was up 1% in the last 12 months.
Thus far in 2016, Anchorage experienced the largest declines in energy prices (-6.9%), recreation (-0.9%), education and communication (-0.8%). Higher prices were seen in health care (+3.2), housing (+.6%), and apparel (+0.5). This only compares the rate of change in prices previously measured in Anchorage and does not account for a higher cost of living generally in Alaska.
The recent mid-year inflation report with more detail can be found at:
http://www.bls.gov/regions/west/news-release/pdf/consumerpriceindex_anchorage.pdf
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