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Current Cost of Living Information January 7, 2005 Cost of Living Jumps
Flagstaff’s Cost of Living Index has risen to its highest point in more than five years. According to statistics complied by the American Chamber of Commerce Researchers Association (ACCRA), Flagstaff’s Composite Index for the Cost of Living in the third quarter of 2004 is an eye-popping 111.5. The 111.5 figure is compared to the national average index of 100. 111.5 for the third quarter of 2004, is up from 106.9 in the second quarter of this year and is up from 107.0 a year ago. You have to go all the way back to the second quarter of 1999 (112.3) to find a quarterly Cost of Living Index as high as this most recent index for Flagstaff. The Composite Index for the Cost of Living is determined through a city-by-city comparison of six different rated areas (with each area’s Index Weight): Grocery Items (16%), Housing (28%), Utilities (8%), Transportation (10%), Health Care (5%)and Miscellaneous Goods and Services (33%). Again, with a score of 100 being the national average, the sharp increase in Flagstaff’s Composite Cost of Living Index was led by a jump in housing costs, which rose from 118.0 in the second quarter of this year to 124.9 in the third quarter. Meanwhile, Miscellaneous Goods and Services also jumped significantly from the second quarter to the third quarter (98.4 to 105.1). There were small increases in the costs of Grocery Items and Health Care and slight decreases in the costs of Utilities and Transportation.
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