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Inflation, as measured by the Consumer Price Index for all Urban Consumers (CPI-U), rose 0.1 percent in August and 2.5 percent nationwide in the 12 months ending August ’24. Core inflation, which excludes the volatile food and energy categories, rose 0.3 percent from last month and 3.2 percent over the year. The CPI numbers reported here are not seasonally adjusted.

The Bureau of Labor Statistics (BLS) publishes Houston-specific inflation data for the months of February, April, June, August, October, and December. From August ’23 to August ’24, Houston’s inflation rate was 1.7 percent. From June ’24 to August ’24, local prices rose on average 0.6 percent. Again, the CPI numbers reported here are not seasonally adjusted.

Since August of last year, Houstonians have seen significant increases (i.e., 3.5 percent or more) in the cost of restaurant meals, alcoholic beverages, and shelter. The cost of groceries, apparel, household furnishings, education, and communication services rose moderately. The cost of electricity, new and used vehicles, and gasoline fell.

The next release of national CPI data will be on Thursday, October 10, 2024. The next release of Houston CPI data will be on Wednesday, November 13, 2024.

Prepared by Greater Houston Partnership Research

Patrick Jankowski, CERP
Chief Economist
Senior Vice President, Research
pjankowski@houston.org

Leta Wauson
Research Director
lwauson@houston.org