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Oregon Inflation Misery Index

Inflation Misery Index

How much more are we paying to live today?

 

The CSI Inflation Misery Index for Oregon calculates the additional monetary expenditure necessitated by inflation rates exceeding the average inflation rate between 2002-2019. This index measures the percentage of a person's total income required to maintain the same level of consumption as in 2019, after adjusting for inflation derived from CPI. The year 2019 was selected as the reference year because it predates the substantial inflationary spikes and the extensive stimulus income that was distributed in response to the COVID-19 pandemic. This ensures that the index accurately reflects the inflationary impact without the distortions caused by these unprecedented factors. Consequently, the index highlights how much more of their income Oregonians need to spend to uphold their standard of living under conditions of heightened inflation.

 

Key Insights 

  • The Inflation Misery Index reached its highest level during the first half of 2024 – more than double the prior peak at the beginning of the great recession.
  •   $9,143 – The Average person in Oregon must spend $9,143 more per year – nearly 13% of their annual income – to consume the same quantity of goods and services they did in 2019. Even after factoring out average regional price increases of 2.3% per year, Oregonians still must spend $4,671 more per year, 6.6% of their income.
  •  20.6% – Due to excess inflation since 2019, the average household in Oregon must now spend must spend $22,034 more per year to consume at 2019 levels. This means that the average household has effectively lost 20.6% of their income to inflation.

 

What does this mean for Oregonians?

Because of high inflation, the average household in Oregon must spend…

  • $3,659 more for housing and utilities
  •  $4,808 more for food
  • $767 for recreation
  • $817 more for gasoline

... just to consume the same amount they did in 2019. It will take a prolonged period of normal or less than normal inflation coupled with strong income growth to recover the purchasing power lost by the post-covid inflationary period.

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