Trends and Developments Concerning Washington Public Labor Contracts
By Jim Cline and Kate Kremer
The Bureau of Labor Statistics released the June CPI Numbers on July 12. Both the Seattle and All Cities CPI numbers dropped significantly, although the Seatle numbers continue to notably outpace the national indices. This graph shows the relative numbers over the past 12 months and to date for the “W” index:
By Jim Cline
In our past two newsletters, we’ve discussed the continuation of higher-than-expected inflation. Those articles identified the prediction by economists earlier this year for the mid-year 2023 national inflation to subside to 3.6% and our doubts that those predictions will materialize. We are now expecting the June CPI numbers to be closer to 5% nationally and higher for the Seattle indices.
By Jim Cline
In our last newsletter we discussed the most recent CPI reports. It discussed the slowing but still high inflation numbers. This chart shows the 12-month trend line in the Seattle and All Cities CPI:
