Seattle Inflation Declines As National Rates Rise

Seattle’s inflation rate dropped to 2.7% in December, down from 3% in October, marking its lowest level since 2021. According to the Bureau of Labor Statistics, this trajectory contrasts with national trends, where inflation rose from 2.6% in October to 2.9% in December.

The Seattle metropolitan area – encompassing King, Snohomish, and Pierce counties – has experienced a steady slowdown in inflation since last August. This decline has been driven primarily by lower costs for recreation and medical care, as well as a 6.2% decrease in gasoline prices compared to the previous year.

However, not all essential expenses have followed this downward trend. Between October and December, utility costs surged by 10.2%, while shelter costs rose 4.4% and food and beverage prices climbed 3%, reflecting continued cost-of-living pressures in the region.

Over the final two months of 2024, overall consumer prices fell 0.5%, though individual experiences varied. Grocery prices declined by 0.2% thanks to lower costs in the bakery and meat aisles, while dining out became more expensive, with restaurant prices rising 0.7%. These shifts underscore how inflation impacts consumers differently depending on individual choices and needs.