The cost of living has skyrocketed across the United States in recent years; according to a recent Census Bureau survey, over 57% of American households have had difficulty affording expenses.
In Colorado, goods and services were about 2.3% more expensive in 2022 than the national average, contributing to significant financial stress for households in the state.
Inflation peaked in June 2022 at 9.1% higher than the previous year; despite cooling since then, consumer prices remain above the Federal Reserve's target rate of 2%.
Americans in metro areas face a significantly higher cost of living—about 11.4% more expensive than those living in rural communities, impacting financial stability.
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