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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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Alaska Journal | Oil industry still reeling from pandemic price crash

Wed, 04/21/2021 - 8:53am
Prices have recovered from an unprecedented price crash in 2020, but jobs on the North Slope are still lagging far beyond near- and long-term peak levels. (Photo/File/AJOC)
The price for Alaska North Slope crude largely recovered months ago from the unprecedented fall it took a year ago, but if a recovery is also going to occur in Alaska’s oil workforce it has yet to materialize.
Rather, preliminary employment data for March from the state Labor Department indicates the industry is continuing in the other direction. Approximately 6,300 people were employed in the state’s oil and gas sector last month, which was in line with February but did not reverse a declining trend that has persisted since the start of the pandemic. ....

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Alaska experienced deflation in 2020 for the first time in its history

Juneau, Alaska (KINY) - It's the first time it's happened in Alaska's history.deflation. ....

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