The local inflation numbers include a drop of more than 9% in energy costs over the past twelve months. Core inflation for Houston is up 2% since August of last year. That includes all consumer goods and services less the volatile energy and food categories.
Patrick Jankowski is vice president of research for the Greater Houston Partnership.
“When there’s not a whole lot of demand out there in certain areas of the economy, you’re not going to see very much inflation. It’s good news for anybody who has to fill a shopping cart or buy school clothes or [is] going out to eat.”
Nationwide, inflation rose 1.7% for the twelve months ending in August, with core inflation up 1.9%.
graph courtesy of the Greater Houston Partnership.