After years of surging prices, Denver’s inflation rate is showing signs of normalcy.
Denver-Aurora-Lakewood’s annual inflation rate hit 1.9% in July and was the lowest among 12 metropolitan regions, according to federal data released Wednesday. The U.S average hit 2.9%.
The national inflation rate is causing excitement because it’s the first time the country’s rate has been below 3% in three years, said Brian Lewandowski, economist at the University of Colorado Boulder.
While the U.S. figures weren’t surprising, Lewandowski said Denver’s inflation came in much lower than he expected.
“We’ve tended to run higher or run hotter when it comes to price growth,” the economist said. “And now we’re running below that national number, and by quite a bit.”
The Bureau of Labor Statistics tracks inflation across 23 cities. Data from the three biggest cities — New York, Los Angeles and Chicago — are released monthly. Meanwhile, the federal agency releases data …