Business/In Brief • Aug. 21, 2014
Honolulu inflation below national rate
HONOLULU – Honolulu’s consumer price index lags the national rate for the first time in 11 years, thanks to a decrease in apparel prices.
Inflation rose 1.1 percent during the first half of 2014 compared with the same period last year, according to statistics released Tuesday by the U.S. Bureau of Labor Statistics. The national inflation rate was 1.7 percent in the same period. Last year, Honolulu inflation increased just 0.5 percent from the second half of 2013.
Clothing was the main driver for the low inflation after the sector dropped 5.9 percent from the year-earlier period, Eugen Tian, chief economist for the state Department of Business, Economic Development and Tourism, told the Honolulu Star-Advertiser.