Economy

Significant Statistics | Inflation Stabilized

Written by: Christopher Collard

Inflation has stabilized over the last 12 months between 3% and 4%, though that rate is higher than the Federal Reserve’s target of 2%. The higher rate is likely due to increasing housing costs. Energy inflation levels are near their long-term average while price increases on food and everything else have slowed below their long-term average. The Utah Foundation’s interactive dashboard allows residents is to: Explore current rates. Compare rates for Western and Mountain States … Continued

Op-ed: How schools are fighting a hunger crisis among Utah families

Written by: Shawn Teigen

Many of us consider ourselves food experts. We certainly know exactly what we prefer to eat after all. Food has also gained additional attention over time as it is and has been one of the drivers of recent inflation and perhaps one of the more palpable ones. In response to elevated prices, many people turn toward cheaper and often highly processed food as a household budget release valve. Some may even need to purchase less … Continued

Significant Statistics | Inflation Updates

Written by: Staff

Utah is in a favorable position with inflation below 4% and unemployment below 3%. While this inflation rate is above Utah’s 15 year average of 2.4%, the state’s current unemployment rate of 2.9% is also well below the 15 year average of 4.1%. By the broadest measures, Utah’s economy is doing very well. That said, there are issues to consider. For example, shelter seems to be the primary driver of inflation, accounting for almost two-thirds … Continued

Op-ed: Don’t just read the headlines on inflation

Written by: Shawn Teigen

I implore you to avoid just reading the headlines. Instead, read the whole story. We should all know that by now, having been repeatedly suckered into stories with alluring clickbait across the internet. For instance, you may have seen or heard that “Consumer prices heated up in July.” Here is a better headline for you: “Consumer prices are perhaps the only thing that didn’t heat up in July.” Inflation had been trending down, and it … Continued

Op-ed: Is our inflation too high? The math, explained

Written by: Shawn Teigen

Seeing inflation at nearly 5% for April was not great. But had it been 2%, that could have been even worse for some Utahns. It is all about the math. Speaking of math, if you dine out, you have probably felt the increase in restaurant prices. This is in part because overall food prices are up by 20% since the pandemic began. I have certainly felt it. My family went out for a congratulatory lunch … Continued

Utah Thrives Podcast | Utahns’ Misery

Written by: Shawn Teigen

Utah Foundation staff discuss the findings of our Misery Index, released in December as part of the 2022 Quality of Life Series. We also hear from Representative — and economist — Robert Spendlove and Dr. Steve Hanke, the creator of the index we used. Just what is making Utahns miserable and how miserable are they? Listen to find out.