Consumer prices in the United States continued their record ascent in August, rising 8.7% over the last 12 months and 0.1% over July. More distressingly, core inflation sharply accelerated to 0.6% (from 0.3% in July).
Consumer prices in the United States continued their record ascent in June, rising 9.1% over the last 12 months – the highest rates in 41 years. At 12.3%, price inflation in the Phoenix metropolitan area remains both well above the national average and at the highest levels ever recorded for the city.
The lack of housing affordability is even more acute in Arizona and the Phoenix metro market, where prices have increased much more quickly than nationally; prices here have risen 40% since the end of 2020, versus 25% for the United States
Housing prices are frequently at the forefront of policy discussions because they impact so many other aspects of the economy. On this episode of Common Sense Digest, Host and Chairman Earl Wright welcomes CSI Arizona’s Director of Policy & Research Glenn Farley, CSI’s Senior Economist Steven Byers to discuss the housing markets in Arizona and Colorado, respectively.