![Prices Soar: Analyzing January’s Consumer Trends In The West](http://townsquare.media/site/1107/files/2024/02/attachment-Untitled-design7.jpg?w=980&q=75)
Prices Soar: Analyzing January’s Consumer Trends In The West
The U.S. Bureau of Labor Statistics has released its report on the Consumer Price Index (CPI) for the West Region, detailing the price changes for January 2024.
The CPI, which measures the average change over time in the prices paid by urban consumers for a basket of goods and services, saw a notable increase in the region.
Monthly Changes
As measured by the CPI-U, prices in the West Region advanced by 0.7 percent in January.
Higher prices for shelter primarily influenced this increase.
It's important to note that the data in this report are not seasonally adjusted, meaning that month-to-month changes may reflect seasonal influences.
Food Prices
Food prices in the West Region advanced by 0.8 percent in January, with prices for food at home leading the increase.
Over the year, food prices saw a 2.9 percent increase, with notable rises in food prices away from home.
Related: McWTF? When Did Eating At A Montana McDonalds Become A Luxury?
Energy Costs
The energy index experienced a slight decrease of 0.3 percent in January, primarily due to lower gasoline prices.
However, prices for electricity and natural gas services saw increases.
Over the year, energy prices fell by 0.9 percent, mainly due to lower natural gas service prices.
All Items Less Food and Energy
The index for all items less food and energy rose by 0.7 percent in January.
Lower prices for used cars and trucks partially offset higher prices for recreation and shelter.
Over the year, this index increased by 3.7 percent, with shelter and medical care contributing to the rise.
Technical Note
The CPI for the West Region is published monthly and covers various goods and services.
It is based on prices collected from various urban areas and retail establishments across the region.
The West Region includes thirteen states: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming.
Winter Tips To Save Money And Energy
Gallery Credit: Credit N8
Ways to Save Money While Going Out to Eat
Gallery Credit: Billy Jenkins
VHS Tapes That Sold For Shocking Amounts of Money
More From 94.5 Max Country
![New Study Shows Montanans Have Great Credit Ratings](http://townsquare.media/site/1107/files/2023/11/attachment-Untitled-design-copy-2.jpg?w=980&q=75)
![How To Get The Best Black Friday Deals In Montana](http://townsquare.media/site/1107/files/2023/10/attachment-Untitled-design-23.jpg?w=980&q=75)
![Surprisingly Turkey Prices Tumble Quickly In Time For Thanksgiving](http://townsquare.media/site/1107/files/2023/10/attachment-Surprisingly-Turkey-Prices-Tumble-Quickly-In-Time-For-Thanksgiving.jpg?w=980&q=75)
![Consumer Price Index – Are You Feeling the Pinch in Montana?](http://townsquare.media/site/1107/files/2023/07/attachment-Are-YOU-Feeling-It.jpg?w=980&q=75)
![TURKEY, IT’S WHAT’S NOT FOR DINNER](http://townsquare.media/site/1106/files/2022/11/attachment-RS16095_498303430-scr.jpg?w=980&q=75)
![Colorful Memories in the Falls About Holiday Village Mall](http://townsquare.media/site/1107/files/2024/07/attachment-Holiday-Village-Mall.jpg?w=980&q=75)
![Magic Moments on Massive Animals in Montana](http://townsquare.media/site/1107/files/2024/07/attachment-Clydesdale-Outpost-Lead.jpg?w=980&q=75)
![Door to Doors Sales – 7 Helpful Tips for Montana Residents](http://townsquare.media/site/1107/files/2024/07/attachment-Door-To-Door-Sales-1.jpg?w=980&q=75)
![Beautiful Montana Lakeside Town Named Best Kept Secret](http://townsquare.media/site/1107/files/2024/07/attachment-Top-10-Retirement-Places.jpg?w=980&q=75)