Inflation Reports

Inflation in Arizona March 2024 Update

Mar 12, 2024

Inflation as measured by the Consumer Price Index (CPI) for the Phoenix metro area continued its decline in February, falling from a rate of 2.7% year-over-year in December to 2.2% in February – the lowest inflation rate since February of 2021.

Inflation in Arizona January 2024 Update

Jan 11, 2024

After running higher than the nation since August 2021, the Phoenix metro area – for the third period in a row – has a lower inflation rate than the U.S.

Inflation in Arizona November 2023 Update

Nov 15, 2023

On a year-over-year basis, the rate of Consumer Price Index (CPI) inflation in the Phoenix metropolitan area decreased in October, matching the lowest rate of inflation since March 2021.

Inflation in Arizona September 2023 Update

Sep 13, 2023

For the first time during this period of rapid price increases, the cost of Shelter in the Phoenix area (market and imputed rental prices) decreased between June and August.

Inflation in Arizona- July 2023 Update

Jul 13, 2023

At 4.4%, year-over-year price inflation in the Phoenix metropolitan area last month was 3 percentage points below its April reading of 7.4%. Month-over-month inflation is 0.1%, a 0.7% decrease from April.

Inflation in Arizona May 2023

May 10, 2023

At 7.4%, year-over-year price inflation in the Phoenix metropolitan area last month was 1.1 percentage points below its February reading of 8.5%.

Inflation in Arizona: March 2023 Update

Mar 14, 2023

On a month-over-month basis, Consumer Price Index (CPI) inflation in the Phoenix metropolitan area and United States continued to rise in February after a slight decrease in December. At 8.5%, year-over-year price inflation in the Phoenix metropolitan area last month was 1.0 percentage points below its December reading of 9.5%.