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Inflation / Denver-Boulder-Greeley Consumer Price Index

Program Contacts:

 

Cynthia Thayer
303.864.7737
cynthia.thayer@state.co.us

 

Jarrod Biggs
303.864.7744
jarrod.biggs@state.co.us

 

Division of Local Government
1313 Sherman Street, Room 521
Denver, Colorado 80203
 


Overview:

 

Inflation (also known as the Consumer Price Index or CPI) is a component for the calculation of two constitutional limits on local government budgets. Article X, Section 20 (otherwise known as TABOR), defines inflation to mean the percentage change in the United States Bureau of Labor Statistics Consumer Price Index (CPI) for Denver-Boulder (now Denver-Boulder-Greeley).

 

The actual Denver-Boulder-Greeley CPI figure for each year is not released until near the end of February. Since this is too late for budgetary purposes, current year forecasts are made available quarterly. Both the Governor's Office of State Planning and Budgeting (OSPB) and the Legislative Council prepare forecasts that are released in late March, June, September, and December.

 

Before the release of the CPI, many local officials use the forecasts to calculate the limitations on "fiscal year spending" and property tax revenue in Article X, Section 20 (7)(b) and (7)(c) respectively.After its release, the actual CPI should be used to re-calculate the limits, which can then be compared to the amounts approved in the budget document. The CPI release in late February is the first opportunity for local governments to determine whether their budgeted amounts in property tax revenues and "fiscal year spending" may exceed the limitations.

 

For questions regarding the use of the CPI (inflation) figure for revenue limit calculations please call DOLA at (303) 864-7720. 


 

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Historical Numbers

 

 - Year -  - CPI Value -  - % Change -
2013 230.791 2.771%
2012 224.568 1.943%
2011 220.288 3.690%

2010

212.447 1.870%
2009 208.548 -0.646%
2008 209.903 3.897%
2007 202.029 2.2%
2006 197.7 3.6%
2005 190.9 2.1%
2004 187.0 0.1%
2003 186.8 1.1%
2002 184.8 1.9%
2001 181.3 4.7%
2000 173.2 4.0%
1999 166.6 2.9%
1998 161.9 2.4%
1997 158.1 3.3%
1996 153.1 3.5%
1995 147.9 4.3%
1994 141.8 4.4%
1993 135.8 4.2%
1992 130.3 3.7%
1991 125.6 3.8%
     

 

 

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Two State Agencies in Colorado develop quarterly projections for the Denver-Boulder-Greeley CPI and both are provided here and updated quarterly.

 

2014 CPI Projections

Organization  - March -   - June -   - September -   - December - 
Colorado Legislative Council 2.8% 2.8%   2.8%  
Colorado Office of State Planning and Budgeting 2.4% 2.6%   2.8%  

 

2013 CPI Projections

Organization  - March -   - June -   - September -   - December - 
Colorado Legislative Council 2.2% 2.2%   2.9% 2.9% 
Colorado Office of State Planning and Budgeting 2.8% 2.4% 2.6% 2.6% 

  

 2012 CPI Projections

Organization - March - - June - - September - - December -
Colorado Legislative Council 2.4% 2.3% 2.1%  1.7% 
Colorado Office of State Planning and Budgeting 3.4% 2.9% 2.2%  2.1% 

 

2011 CPI Projections

Organization  - March -  - June -  - September -  - December -
Colorado Legislative Council 2.3% 2.6% 3.2% 4.1%
Colorado Office of State Planning and Budgeting 3.6% 3.5% 3.5% 3.5%

 

2010 CPI Projections

Organization  - March -  - June -  - September -  - December -
Colorado Legislative Council 1.8% 1.6% 1.3% 1.6%
Colorado Office of State Planning and Budgeting 1.5% 1.5% 1.0% 1.0%

 

2009 CPI Projections

Organization  - March -  - June -  - September -  - December -
Colorado Legislative Council 1.0% 0.4% -0.4% -0.9%
Colorado Office of State Planning and Budgeting 0.0% 0.0% -1.6% -1.2%