Prices on the Rise in Alaska in 2021 After 2020's Historic D

Prices on the Rise in Alaska in 2021 After 2020's Historic Deflation


KINY
6:00am - 8:30am
State Labor Economist Neal Fried
Juneau, Alaska (KINY) - Prices are rebounding in Alaska this year following 2020 when the state actually saw deflation for the first time ever.
State Labor Economist Neal Fried outlined the shift in the article he authored for the July edition of Alaska Economic Trends.  He said the whole story changed completely in 2021 which should not have been unexpected.  Inflation in February of this year was up 1.3 percent from February 2020 and then a whopping 4.8 percent from April to April.  Fried said that was the biggest annual jump since 1991.
The economist said demand grew a lot.  "Prices for a lot of items went up pretty dramatically," he said.  "One that we're very familiar with, of course, is oil and energy prices and gasoline prices are much higher today than they were a year ago."

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