Seattle Under Inflation Problems
By: Leon Castles
on Wednesday, May 16, 2012
Inflation can not only hurt the individuals, but also the businesses. As per the recent local index report, Seattle area is going through inflation problems that are going to hurt the local business in the city. Consumer prices have accelerated in the city mainly because of the rise of gasoline prices. As per the report, the inflation in Seattle rose at 0.9% between February and April since October. When compared with the inflation data of 2011 the index went up by 2.9%. The report has been confirmed by the US Bureau of Labor Statistics.
In the month of February the gasoline prices were down and the inflation ratio was 2.3% at that time. As per the AAA report, the average price of gasoline in Washington moved up 12.5 cents in one week that has forced the business owners to increase the prices on the products and services that they offer and sell. The prices for unleaded gasoline in Seattle today have become 14.2% costlier than what it would cost in February 2012. The regular self-serve gasoline in Washington costs $4.21 per gallon which is 48 cents more than national average. In the year 2011, food prices dropped by 1.1%, but food prices has now climbed up 3.1% which is too much for the locals. The local housing market has dropped as well probably due to higher rents.