Juneau, Alaska (KINY) - The cost of living in Alaska last year is the focus of the July edition of Alaska Economic Trends published by the Research and Analysis Unit in the State Department of Labor and Workforce Development.
Economist Neal Fried, who authored the article, wrote that inflation hovered near a record low for a third straight year in 2017 with the Anchorage Consumer Price Index increasing just one-half percent. It's the first time Alaska hasn't topped half a percentage point for three years in a row, according to the economist.
Fried said Alaska's index of one-half percent is much lower than the national index of 2 point 1 percent. He added that's the way its been for awhile. A big part of the difference he said is explained by the different housing markets.
But the rate appears to be rising in the first quarter of this year. Fried says recent measurements peg the rate of inflation at one percent. He said the increase is largely fueled by energy prices with the rise in the price of oil.
In the article, Fried posed the question, "How much would $1,000 in 2000 be worth in 2017?" Fried said the answer is about $1,450.
Fried was interviewed on Tuesday's edition of Action Line.