Local consumer prices up slightly in April

Local consumer prices up slightly in April


Save Story
Leer en español

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

SALT LAKE CITY — The Zions Bank Wasatch Front Consumer Price Index increased 0.7 percent from last month. The U.S. CPI — an aggregation of all prices throughout the nation — increased at a rate of 0.3 percent.

Year-over-year, the Wasatch Front Index has increased 2.5 percent, comparable to the national index rise of 2.3 percent. Increases in the price of housing and transportation drove April’s inflation, a news release stated.

"Across the Wasatch Front and the nation, the housing market is showing signs of recovery," said Randy Shumway, chief executive officer of The Cicero Group. "A 1.0 percent increase in the costs of housing accounted for half of the rise in April’s CPI along the Wasatch Front."

Over the course of the last 12 months, the price of housing has increased 3.7 percent across the Wasatch Front, compared to 1.7 percent nationally, he said.

"Consumer confidence in home prices reflects an increasingly positive outlook for the local housing market and economy," Shumway added.

Most recent Utah stories

Related topics

Utah
ksl.com

    STAY IN THE KNOW

    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast