The Consumer Price Index (CPI) is a measure of the average change in prices paid for a fixed market basket of goods and services purchased by urban consumers over time. It is commonly used as a measure of inflation.
Inflation in the Seattle-Tacoma-Bellevue Metropolitan Statistical Area closely follows that of the western United States and the nation as a whole. Prices in 2022 increased 9.0% compared to 2021 – higher than anytime in at least 30 years. The Federal Reserve bank aims for an inflation rate of 2% to balance a growing economy with stable prices.