(The Center Square) – Prices in the Denver metro area dropped slightly by 0.3% from September to November, according to the latest federal data released Tuesday.
Since November 2022, prices in the area are up 4.5%, the U.S. Bureau of Labor Statistics’ consumer price index says. Nationally, prices for all items were up 3.1% over the same timeframe.
“This was the first two-month period of deflation since September of last year,” an analysis by the Common Sense Institute noted.
According to the think tank, the average household in the state paid $2,412 more over the last two months due to inflation.
“The average Colorado household has spent $24,124 more since 2020 because of higher inflation,” CSI said.
CSI noted that since 2020, price growth in Denver ranks ninth out of 23 areas tracked by the CPI.
“The two price categories that grew the fastest over the last 12 months were fuel and utilities and medical care, which grew by 11.2% and 6.5%, respectively,” the think tank said.
