Cost of Living Index for Second Quarter 2016 Released
Posted: September 2, 2016
The results are in for the second quarter of 2016's Cost of Living Index. According to The Council for Community and Economic Research, the Cost of Living Index measures relative price levels for consumer goods and services in participating areas. The average for all participating places, both metropolitan and nonmetropolitan, equals 100, and each participant's index is read as a percentage of the average for all places. The categories the Index measures are grocery items, housing, utilities, transporation, health care, and miscellaneous goods and services.
The Eau Claire Metro ranks third of the five participating areas within the State of Wisconsin, with a composite index of 93% the national average. Comparatively, Madison's Metro was rated at 104.4%, Green Bay's Metro at 91.7%, and Fond du Lac's Metro at 96.3%. The Milwaukee Metro does not particpate. Wisconsin Rapids-Marshfield's Micropolitan Area rated lowest at 90.3%. Among the individual categories, Eau Claire ranked the lowest compared to the rest of the state participants in cost for utilities category.
The second quarter prices were collected in April. The third quarter prices were collected in July and should be available in early November. Prices are collected for the first, second, and third quarters of a given year. For more information on the index, please contact Ray French, Business Assistance Specialist, at email@example.com.