We’ve got some good news for you, friends: Columbus is experience some of the lowest levels of inflation in the nation. Yep, a report by Smart Asset found that between 2006-2016, Columbus was the sixth lowest in inflation rates of in any city nationwide. We are third on the list for purchasing power which translates into a cost of living decline of .47 percent.
That may seem microscopic but hey, any decrease in the price of life is better than an increase, right?
Bill LaFayette, founder of Regionomics LLC, told Columbus Business First that he believes the low inflation rate is thanks to Columbus’ booming housing market. However, he is skeptical about how representative Smart Asset’s report is.
The Consumer Price Index is the most typical measure of inflation and that doesn’t actually calculate rates in Columbus and other cities included in the report. It is likely Smart Asset used an alternative measure to calculate Columbus’ inflation rate which could lead to misrepresenting parts of the populace including blue collar workers.
Nevertheless, LaFayette believes Smart Asset’s methodology used in the study still demonstrates that the dollar value here is more than in other places.Read more