Midwest Inflation Increased from January to February
The Consumer Price Index is used to calculate inflation, or the change in price of a basket of goods and services, as it impacts consumers; whereas, the Producer Price Index measures changes in selling prices, thereby expressing price changes from the perspective of the seller who produces a particular commodity.
A slide presentation updated with February 2018 data shows the Midwest inflation rate increased from January to February for large and small uban metro areas.
The Producer Price Index data shows that prices in the United States have increased from February 2017 to February 2018 for aircraft (0.2 percent), slaughter livestock (8.6 percent), wheat (5.4 percent), sorghum (1.9 percent), natural gas (23.5 percent). During that same time period, the index decreased for petroleum (-7.3 percent).
The Bureau of Economic Analysis released their annual estimates of personal income for each state. Kansas' personal income grew 1% in 2017 compared to 2016. This ranks Kansas 47th in the nation in personal income growth. Despite slow growth this year Kansas' income per capita puts the state 24th in the nation.
The Council for Community and Economic Research released its annual Cost of Living Index for 269 urban areas. CEDBR is continuing its analysis of the components of the index by examining the grocery component of the index. Wichita’s overall Grocery Index value was 6.5 percentage points below the national average value of 100. The most expensive urban area to buy grocerieswas Honolulu, HI, with an Index value 62.5 percentage points above the national average. The least expensive urban area was Jackson-Madison County,TN which was nearly 21 percentage points below the national average. Read the full analysis.
To subscribe to the Cost of Living Index report, or to learn more about The Council for Community and Economic Research, visit their website.
Lawrence Area Economic Outlook Conference
ECONOMIC OUTLOOK CONFERENCE Wednesday, May 23, 2018 ― 10:30 AM to 2:00 PM ― Luncheon Event
The Oread Hotel 1200 Oread Avenue, Lawrence, KS 66044
The purpose of the conference is to provide insight into the local and national economies, addressing topics of interest to the community, region and state. A combination of state and local experts will be on hand to provide perspectives on issues affecting business, health care, industry, education and government.