2008 Colorado Cost of Living Increase - Anybody Know? (Denver, Durango: budget, salary)

[RobinInHesperus]

Here's a long shot, but I've seen some well-informed people on this forum.

I currently live in Hesperus, CO (outside of Durango) and work for the local volunteer fire department as a paid administrator.

Now is the time for my annual salary increase and the board of directors has tasked me with finding the current cost of living adjustment for the State of Colorado so they can raise my wages accordingly.

I've always prided myself on my search abilities but I have to admit that I'm stymied.

The best I can do is find out that the Federal Gov't is giving social security recipients a 2.3% increase for the new year. Does anyone have a clue what the increase should be for the state (and ideally have a website to back it up)?

Thanks in advance for any info you guys might have.

Robin in Hesperus

[CapHillboy]

Don't know if this is any help, but the CO minimum wage, which i believe is now tied to the Consumer Price Index (CPI) for CO, went from $6.85 last year to $7.02 this year. You can calculate the % increase, I hope. I can't; I failed math all through school.

Here's the website to CO Dept of Labor:
Welcome to The Colorado Department of Labor and Employment

Hope this helps. And good luck on that pay raise!

[RobinInHesperus]

CapHillBoy... thanks for that idea. I saw that the min. wage went up and was tied to the CPI but I was thinking that was for future increases. Since this year's increase was 2.4%, I guess that's as good of a number as any. (Sure wish that calculation came out to 25% or something )

Thanks!

[Charles]

Originally Posted by RobinInHesperus

Does anyone have a clue what the increase should be for the state (and ideally have a website to back it up)?

Work these:

Colorado by the Numbers: Consumer Price Index

Colorado Office of Economic Development and International Trade (broken link)

Colorado Wages and Cost of Living

index colorado "cost of living" - Google Search

[jazzlover]

RobinInHesperus,

If I read your post right, you are asking for a prediction of inflation for 2008, right? Read the business media and you will find that those range all over the board. The CPI's, etc. mentioned in the replies above are historical looks at the CPI--what it's done in the last 6 mos., year, or whatever. For TABOR calculations, COLA's, etc., those are what are usually used.

Now, if you want my unscientific prediction, based on what I see right now, I think inflation is going to be a serious problem in 2008. Both food and fuel prices (excluded from most inflation statistics--go figure) have skyrocketed in the last year. I predict that by the 2nd Qtr. of '08, the increases in fuel prices will be permeating virtually every aspect of the economy. I also think that the dollar is going to continue to collapse on the world market, which will raise the costs of imports (including oil) even higher. My personal opinion is that inflation will be roaring along at a 6% annual rate by mid-year. I really hope I'm wrong about that, but about the only thing that would stop it is if the economy is really going into the tank by then--and that, too, is a real possibility. Sorry to be such a "ray of sunshine" on Monday morning.

[RobinInHesperus]

Actually I meant 2007 increase in COL so I could come up with a number for my raise for this year.

[jazzlover]

This is the best information I could find:

Consumer Price Index for Denver

http://www.budgets.colostate.edu/docs/CPI.pdf

Inflation or TABOR Growth Figure (CPI)

Hope those links help . . .