Colorado’s year-over-year inflation continues to outpace the national rate of 3.1%.
While inflation rates in the Denver metro area have dropped to 4.5% in November, down from 5.4% in September, Colorado’s year-over-year inflation rate still surpasses the national average of 3.1%.
According to analysis conducted by the Colorado State Initiative (CSI), the average family in Colorado is spending an additional $1,206 per month compared to pre-pandemic times. This highlights the significant impact of inflation on households across the state.
One area of particular concern is household gas and utility prices.
From November 2022 to November 2023, these prices experienced an alarming 11% increase in the Denver metro area, significantly higher than the mere 0.2% increase observed nationwide. This disparity places an additional strain on local Colorado residents, who are already grappling with rising living expenses.
But we ain’t seen nothin’ yet: “Under a first-of-its-kind state law, Colorado is requiring gas distribution utilities to submit plans to state regulators showing how they would reduce greenhouse gases 22 percent by 2030 compared with 2015 levels.”