For local governments, Article X, Section 20 (otherwise known as TABOR), defines inflation to mean the percentage change in the United States Bureau of Labor Statistics Consumer Price Index (CPI) for Denver-Boulder (now Denver-Aurora-Lakewood).
|Year||CPI Value||% Change|
Using CPI for Budget Projections
The Denver-Aurora-Lakewood CPI figure is released annually near the end of February. Local governments recognize the timing of its release makes it too late for use actual numbers for annual budgetary preparation which must be completed in December. Accordingly most local governments find it necessary to use current year forecasts which are made available quarterly through both the Governor's Office of State Planning and Budgeting (OSPB) and the Colorado Legislative Council.
Many local officials use the forecasts to calculate TABOR limitations. Doing so necessitates recalculation of limits after the release of the actual Denver-Aurora-Lakewood CPI number to compare amounts approved in the budget document and make amendments if necessary.
In January 2018, the Bureau of Labor Statistics introduced a new geographic area for the CPI. The local CPI changed from Denver-Boulder-Greeley to Denver-Aurora-Lakewood. The Bureau of Labor Statistics CPI provides more information, and past actual numbers for the calculation of the index.
Two State Agencies in Colorado develop quarterly projections for the Denver-Aurora-Lakewood CPI and both are provided here and updated quarterly.
2020 CPI Projections
|Colorado Legislative Council||2.2%||1.0%||1.7%|
|Colorado Office of State Planning and Budgeting||1.7%||1.9%||2.5%|
2019 CPI Projections
|Colorado Legislative Council||2.3%||1.5%||1.8%||1.9%|
|Colorado Office of State Planning and Budgeting||2.3%||2.0%||1.7%||1.9%|
2018 CPI Projections
|Colorado Legislative Council||2.9%||3.1%||3.2%||3.0%|
|Colorado Office of State Planning and Budgeting||2.9%||3.0%||3.0%||2.7%|