Report: Price Index sees slight drop but remains high locally

Local News

SALT LAKE CITY (ABC4 News) — A new report from Zions Bank says the costs of goods and services along the Wasatch Front dipped slightly over February.  

Year-over-year the Price Index shows a consumer price increase of 3.9 percent locally which is more than double the national index increase at 1.5 percent.

Transportation prices dropped 3.6 percent in February, the biggest drop since a year ago and part of an 8-month long declining trend which contributed to the overall decrease. 

The report also highlights the rising cost of housing along Northern Utah. The average Utahn is spending 38.7% of their monthly expenditure on housing, and the price index showcased a 0.3% increase in housing cost over the last month and an 8.3% increase over the last 12 months.

Analysis and data collection for the Zions Bank CPI and the Zions Bank Consumer Attitude Index are provided by Cicero Group, a premier management consulting firm based in Salt Lake City. This month’s Zions Bank Utah Consumer Attitude Index will be released March 26.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


More Podcasts