Wyoming’s inflation rate in the final quarter of 2021 grew by 9.3 percent, the highest rate since 1981. According to the Wyoming Economic Analysis Division, a 22 percent increase in transportation costs led the way.
“When you have high gasoline prices, energy prices, that trickle down and affect the other goods that people buy, you know, goods have to get to the store, goods need to be produced, “ said Wyoming Principal Economist Amy Bittner. “So usually when you see those, you know, higher gasoline prices, you'll see higher prices for other items that people buy.”
Bittner said the inflation rate was higher than the national average of seven percent.
“I don't think it's any surprise to people who have been to the stores, or who have seen gasoline prices during the fourth quarter,” said Bittner. “So, I think this just provides a number and a picture to what I think people already knew and have been experiencing.”
Food costs rose by 8.3 percent and housing costs by almost 7.5 percent. Goshen County saw the lowest cost of living in the fourth quarter at 85 percent of the state average.
