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(KSL News) Wells Fargo today released its calculation of the state's consumer price index for July. The cost of goods and services went up for the fifth month in a row.
Wells Fargo analysts saw price increases in nearly everything sold in the state. The cost of food in Utah grocery stores jumped 2.3 percent, doubling the national gain.
Analysts say that's due to transportation costs. "Much of the actual of the food price increase is due to transportation and gasoline prices rather than the actual food that's being produced or sold," said Kelley Matthews, executive vice president and economist for Wells Fargo.
Utah's transportation price increases also doubled nationwide increases.
