Prices in the Denver-Aurora-Lakewood area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), increased 0.2 percent for the two months ending in November 2024, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Michael Hirniak noted that the all items less food and energy index rose by 0.8 percent in October and November. The food index was up 0.9 percent, while the energy index was down 8.9 percent over the past two months. (Data in this report are not seasonally adjusted. Accordingly, bi-monthly changes may reflect seasonal influences.)

Over the last 12 months, the CPI-U advanced 2.0 percent. The index for all items less food and energy increased 2.5 percent over the year, and the food index rose 3.6 percent. Energy prices declined 8.1 percent, largely the result of a decrease in the natural gas service index. (See chart 1 and table 1.)

  

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Chart 1. Over-the-year percent change in CPI-U, Denver-Aurora-Lakewood, CO, November 2021–November 2024

Month	All items	All items less food and energy
Nov 2021	6.5	5.2
Jan 2022	7.9	7.0
Mar 2022	9.1	8.0
May 2022	8.3	7.1
Jul 2022	8.2	6.6
Sep 2022	7.7	7.2
Nov 2022	6.9	6.7
Jan 2023	6.4	5.9
Mar 2023	5.7	5.6
May 2023	5.1	5.6
Jul 2023	4.7	5.8
Sep 2023	5.4	5.4
Nov 2023	4.5	4.8
Jan 2024	3.5	4.1
Mar 2024	2.8	3.4
May 2024	2.6	2.7
Jul 2024	1.9	2.4
Sep 2024	1.4	2.0
Nov 2024	2.0	2.5

Food prices increased 0.9 percent for the two months ending in November. Prices for food at home (grocery store prices) rose 1.4 percent, and prices for food away from home (restaurant, cafeteria, and vending purchases) advanced 0.3 percent for the same period. Within the food at home category, the indexes for dairy and related products (+4.5 percent), nonalcoholic beverages and beverage materials (+3.9 percent), and fruit and vegetables (+2.2 percent) contributed to the rise. A 1.1-percent decline in the index for cereals and bakery products partially offset increasing prices.

Over the year, food prices advanced 3.6 percent, mainly driven by a rise in the index for food away from home, which increased 5.6 percent. Prices for food at home advanced 1.7 percent, with the indexes for other food at home (+2.0 percent) and meats, poultry, fish, and eggs (+1.9 percent) contributing most to the 12-month change in the index.

The energy index fell 8.9 percent for the two months ending in November. The decline was mainly due to lower prices for gasoline (-13.9 percent). Prices paid for electricity and natural gas service also decreased over the two-month period.

From November 2023 to November 2024, energy prices declined 8.1 percent. This decrease was due to a combination of a decline in the natural gas service index and a 5.5-percent decrease in the gasoline index. The index for electricity also fell over the year.

The index for all items less food and energy increased 0.8 percent in the latest two-month period. Higher prices for public transportation, owners’ equivalent rent of residences (+0.6 percent), and lodging away from home were partially offset by lower prices for education and communication (-1.5 percent), recreation (-1.3 percent), and rent of primary residence (-0.8 percent).

Over the year, the index for all items less food and energy rose 2.5 percent. Components contributing most to the advance included owners’ equivalent rent of residences (+1.7 percent), other goods and services (+7.0 percent), and rent of primary residence (+1.9 percent).

The January 2025 Consumer Price Index for the Denver-Aurora-Lakewood area is scheduled to be released on Wednesday, February 12, 2024.

The Consumer Price Index (CPI) is a measure of the average change in prices over time in a fixed market basket of goods and services. The Consumer Price Index for Denver is published bi-monthly. The set of components and sub-aggregates published for regional and metropolitan indexes is more limited than at the U.S. city average level; these indexes are byproducts of the national CPI program. Each local index has a much smaller sample size than the national or regional indexes and is, therefore, subject to substantially more sampling and other measurement error. As a result, local-area indexes are more volatile than the national or regional indexes. In addition, local indexes are not adjusted for seasonal influences. NOTE: Area indexes do not measure differences in the level of prices between cities; they only measure the average change in prices for each area since the base period.

The Denver-Aurora-Lakewood, CO, Core Based Statistical Area is comprised of Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park counties in Colorado.

Refer to the national CPI news release technical note or the Handbook of Methods for more information.

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