Inflation hit the Intermountain West harder than any other area in the country during 2021.
Price increases — Mountain West vs. National
- Fuel: 57.5% in Mountain-Plains division. 49.5% nationally.
- Food: 6.2% in Mountain West. 6% nationally.
- Housing: 8% in Mountain division. 3.8% nationally.
- Used cars: 36% in Mountain West. 37% nationally.
Migration from more densely populated urban areas to less-population areas — a result of the pandemic — has increased the cost of purchasing a home and renting in the West.
And the increase in fuel prices last year can mostly be attributed to declining refining capacity in the West and Intermountain regions, according to a report by the U.S. Energy Information Administration.
Of course, keep in mind that a higher percentage increase doesn't necessarily mean prices are higher in the Mountain West than elsewhere. Julie Percival, a regional economist for the bureau’s Southwest and Mountain-Plains Information Office, explained that a price increase at the pump in Dallas would reflect a larger percentage increase than the same increase in San Francisco, where gasoline already costs more than it does anywhere in Texas.
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