From Deseret News archives:
Wasatch Front's cost of living up
A Wells Fargo Consumer Price Index report released Wednesday shows that the local consumer price index slightly outpaced the national increase of 0.9 percent. Nationally, when the numbers are seasonally adjusted, consumer prices rose 0.3 percent in March, after being unchanged in February.
The increases came as energy prices jumped by 1.9 percent and airline fares, reflecting higher fuel costs, increased 3 percent, the biggest one-month gain in six years.
The Wasatch Front's overall 1 percent rise, which is not seasonally adjusted, mirrors the West's 1 percent increase in consumer prices issued by the U.S. Bureau of Labor Statistics.
The Wasatch Front report shows a 3 percent rise in the cost of groceries, and a 0.9 percent rise in transportation costs, largely fueled by the price of oil and the declining value of the dollar.
"Rising commodity prices...combined with the weakness of the dollar...(are) not going to rectify easily or quickly," said Kelly Matthews, Wells Fargo executive vice president and economist.
Matthews projected a gallon of gas in Utah could rise to around $3.50 during the high-demand summer driving months.
The cost of clothes rose a whopping 6.5 percent for the Wasatch Front. But Matthews attributes that to temporary price volatility. Nationally, prices rose 2.6 percent for the month but are down 0.2 percent in the past year.
The cost of other goods and services rose 1.2 percent for the Wasatch Front. Nationally, those prices are up 0.5 percent for March and 3.4 percent for the year.
Housing costs went up 0.7 percent, driven primarily by rising prices of household appliances, the report states. Nationally, housing cost 0.6 percent more for the month and 3.1 percent over the past year, the report states.
Those inflation pressures are occurring just as the economy seems to be sinking into a recession, with consumers cutting back on spending and the housing industry, where all the troubles started, sinking further.
That was the somber news from a batch of economic reports released Wednesday that depicted an economy still struggling with multiple problems from a prolonged slump in housing, soaring energy prices, a severe credit crisis and rising unemployment.
Recent comments
Well Duh! What was their first clue?
Food Is Way Up, | April 17, 2008 at 1:36 a.m.
- Mathews helps play some defense 12:12 a.m.
- Mormon youth: Korea's 'loud boys' 12:12 a.m.
- 'American Idol' changed Jon Peter Lewis 12:12 a.m.
- Saint Mary's next for Aggies 12:12 a.m.
- Vancouver temple dedication date 12:11 a.m.
- First LDS woman U.S. senator dies 12:11 a.m.
- Mormon Messages on YouTube 12:11 a.m.
- 'Altered State' novel compelling 12:10 a.m.
- WSU meets Hornets in conference 12:10 a.m.
- FlyLady: Gratitude 12:10 a.m.
- Ed Smart 'appalled' at testimony
- Mr. Football 2009: Tuni Kanuch
- 5A high school football All-State
- Miller predicted Tiger's rough road
- Utah Jazz going green with unis
- 4A high school football: All-State
- Harpring's NBA career is over
- Nutty Putty Cave to be sealed today
- MVPs wrap up stellar prep careers
- Jazz: Miles, Kirilenko to play Friday
- Hall reprimanded by MWC
410 - Why is Y. ignoring spew of hatred?
294 - BYU says Hall incident resolved
247 - Letters: Liberal because LDS
237 - 2 citations issued at Y.-U. game
189 - Hate not limited to 1 in-state rivalry
184 - Aggies shoot past Cougars
179 - Religion in politics is tiresome
161 - N.Y. Senate rejects gay marriage
118 - Max Hall: a fixture in rivalry lore
118
Trolley Square's annual Holiday Open House will feature visits with...
First, a big thank you to all who posted questions here for me to ask...
A big player in the paint needs a big player to serve it up. Way to deliver....
Becuase I don't support abortion - I support the freedom for women to make...
GOOD JOB DE PASO PERUANO
A natural wonder that God built is being destroyed by man. Just not right.
Rio Tinto Stadium is located in Sandy, Utah, just 15 minutes from downtown...
I distinctly recall a couple of BYU players probably lineman who came from...
Is a great writer, but he's considered good because of how he exaggerates the...
btw There is NO THEORY of evolutuion. But don't let that fact stop your...
Everyone is on the Boozer bandwagon. But most predicted that in the last...
playing very well. However, his plus minus for tonight was 0. That may be a...


