Houston Inflation Virtually Flat For Year Ending In August

The U.S. Bureau of Labor Statistics reports inflation rose just 0.7% in Houston from August 2011 to August 2012.

The local inflation numbers include a drop of more than 9% in energy costs over the past twelve months. Core inflation for Houston is up 2% since August of last year. That includes all consumer goods and services less the volatile energy and food categories.

Patrick Jankowski is vice president of research for the Greater Houston Partnership.

“When there’s not a whole lot of demand out there in certain areas of the economy, you’re not going to see very much inflation. It’s good news for anybody who has to fill a shopping cart or buy school clothes or [is] going out to eat.”

Nationwide, inflation rose 1.7% for the twelve months ending in August, with core inflation up 1.9%.

 

Inflation
                                                                                                                                                          graph courtesy of the Greater Houston Partnership.

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...