In another sign that Wyoming’s economy is improving, statewide inflation increased by just over two percent in the fourth quarter of 2017.
The largest increase was in food, followed closely by medical costs. State Senior Economist Amy Bittner said that the increases were widespread.
“All regions of the state experienced inflation, there was inflation across all consumer categories, for example in the 4th quarter of 2017 we saw housing inflation go up, you know that’s the first time since the 2nd quarter of 2015 so maybe things are picking up just a little bit.
When purchasing picks up, that leads to an increase in prices, which is a good sign for the economy. Bittner added that was reflected in other areas as well.
“For the first time since 2015 we saw an increase in overall employment, during Wyoming’s economic downturn we saw a decline in revenue, like sales tax collections and those have picked up a little bit, so maybe things are getting a little better.”
Bittner said the cost of living increases are just another economic indicator that shows how Wyoming’s economy is doing.