Report: Phoenix consumer prices rise on par with nationwide average in 2015
PHOENIX — Consumer prices in Phoenix rose on par with the nationwide average in 2015, according to the Phoenix Business Journal.
Prices for Phoenix consumers rose 1.1 percent in 2015, according to data from the U.S. Bureau of Labor Statistics. The nationwide average consumer price increased 1.2 percent in the same year.
Phoenix ranked below many other western markets, which rose an average of 1.6 percent in 2015.
Los Angeles took the top spot for the largest price increase in 2015, with an increase of 3.3 percent. Portland ranked among the cities with the lowest rise, with just 1.1 percent.
Officials said the low consumer prices came thanks to declining energy costs, but were offset by an increase in rent and food prices.