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Arizona Inflation Higher Than National Average

Phoenix area Inflation

Where as, the national average inflation was 9.1%, The metro phoenix area was 12.3% mostly due to a strong economy and housing shortage.

Area prices were up 3.1 percent over the past two months, up 12.3 percent from a year ago

Prices in the Phoenix area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 3.1 percent for the two months ending in June 2022, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Chris Rosenlund noted that the June increase was influenced by higher prices for shelter. (Data in this report are not seasonally adjusted. Accordingly, bi-monthly changes may reflect seasonal influences.)

Over the last 12 months, the CPI-U jumped 12.3 percent. (See chart 1 and table A.) Food prices increased 9.3 percent. Energy prices jumped 43.3 percent, largely the result of an increase in the price of gasoline. The index for all items less food and energy jumped 10.2 percent over the year.