By Jim Cline
The November national inflation number, as reported by the All Cities CPI-W dropped to 1.7%, a full half percent below the October report for the same Index (2.2%). The All Cities CPI-U was reported at 1.8%. (These indices report inflation as measured over 12 months). According to the Bureau of Labor Statistics report, the drop of inflation is almost entirely attributable to a decrease in gas and energy prices.
The Seattle Index is reported every other month. In our last article concerning the Seattle Index, it stood at 2.3%, just .1% over the national index. Unless there is some resurgence in fuel prices, or other inflationary indicators during December, we would anticipate that the 2012 year end CPI indices for both Seattle and All Cities will be reported near 2%. That year-end report is due out in mid-January.
