Inflation Measured by the Consumer Price Index, Percent Change
Generally, the inflation rate does not vary substantially by state or local area. In only two of the 12 years since the consumer price index began to be reported for Metropolitan Phoenix has inflation in the Phoenix area been more than the national average. Over this period, Phoenix area inflation was highest in 2007, at the peak of the economic cycle, and in 2008, due to rising gasoline prices. Deflation was measured in 2009 as gas prices fell and the recession had a generalized effect of holding prices steady. Inflation was minimal in 2010, rose to between 2 and 3 percent in both 2011 and 2012, then dropped back to 1.3 percent in 2013. Nationally and in Phoenix, inflation in 2014 was 1.6 percent.