Cost of living in Wyoming is on the rise
If you've noticed things cost a little more this year than last year--you're right.
A new report from the Wyoming economic division shows the cost of living index for Wyomingites *is* going up. But that may not be a bad thing.
"We saw increased inflation across all regions of the state.” Amy Bittner, Senior Economist with Wyoming’s Economic Analysis Division says, “These inflation rates reflect, I think, that the economy is rebounding."
Across the board Wyoming economists saw the price of goods and services increase during the second quarter of this year. From the second quarter of 2017 to the second quarter of 2018 in wyoming--the price of everything from food to housing to transportation went up. The overall increase is about 3%, and some of price hikes are linked.
For instance, the biggest hit your pocketbook was probably how much you're spending on transportation--blame that on rising gas prices. Since food and everything you buy at the store has to be transported... Rising gas means rising food and apparel costs.
So how does Laramie County compare?
On average--it will cost you two percent more to live in Laramie county than the rest of the state. Laramie County has the second highest cost of living in the state, second only to Teton County. But that’s a big gap – Teton County is nearly 60% more expensive than the rest of Wyoming.
The biggest cost for people living in Laramie County is housing, costing 7-percent more here than the state average.
While all of these increases might make you think the state's economy is lagging--there might actually be a silver lining: Amy says Laramie County can take the inflation, because the local economy is stronger than the state's as a whole.
"Laramie county wasn't as impacted by the downturn in the energy economy... So I think that's why you're seeing Laramie County above the statewide average of 100."
Another reason Laramie County's cost of housing is up is the fact it was one of the few counties in the state to see a population *increase this year.