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Consumer prices tick up in Utah

By | Posted - Dec. 18, 2018 at 7:01 a.m.

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SALT LAKE CITY — The Zions Bank Wasatch Front Consumer Price Index increased 0.1 percent from October to November on a non-seasonally adjusted basis.

Year over year, the index grew by 5.2 percent, while the National Consumer Price index decreased by 0.3 percent since November of last year.

Rising housing prices made up the vast majority of the slight price rise in November, with apartment rental rates — up 0.7 percent — driving the largest month-to-month increase in housing prices seen in any November since Zions Bank began tracking consumer prices in 2010.

The cost of food at home also rose as produce prices increased heading into winter in conjunction with recent concerns about E. coli in romaine lettuce boosting demand for other produce.

Utility and transportation prices declined month over month, a news release states, attributable to scheduled seasonal decreases in water and gas rates. Utility prices dropped 3.5 percent in November and transportation costs dropped 0.4 percent, marking the fifth consecutive month that transportation rates have fallen.

Editor's note: The content of this article was taken from a press release sent out by Zions Bank. This is not information gathered by reporters.

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