Inflation: What’s Really Driving it?

With the rapid run-up of costs across the globe, we’re hearing a lot of heated takes about the drivers and impacts of inflation on Colorado. The Bell wanted to sort through the evidence and separate myth from fact. To remain informed in this political season, our key takeaways are:

1. In May, inflation hit 8.3 percent (year-over-year) in the Denver metro area.
2. Current inflation is primarily driven by Russia’s invasion of Ukraine and the Covid-19 pandemic.
3. Current price increases are not driven by the American Rescue Plan, and TABOR rebates won’t worsen it.
4. Colorado lawmakers can’t slow rising costs but can target relief and assistance to lower- and middle-income Coloradans.

Learn more about the real drivers in our fact sheet below.