TOPEKA ( KSNT ) – You can feel it in your wallet. Across the board, prices in the Midwest are higher than the same period last year.
The Bureau of Labor Statistics (BLS) keeps track of the price of goods and services in the market. Consumers are still recovering from the feverish inflation seen in 2021. In January 2024, prices in the Midwest Region rose 0.3%; a 2.7% increase from the previous year.
The Midwest Region consists of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.
In 2021, the Midwest Region saw prices skyrocket across the market, increasing by 7.5% before reaching a peak in June 2022 of 9.5%. Since then, prices gradually decreased to 2.4% in June of 2023 before seeing back-and-forth fluctuations between 2.9% and now 3.2%.
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