Inflation Rate 2024 Colorado. Area consumers, however, saw prices rise faster than the nation, with an annual inflation rate of 4.1% for the year but 3.4% for december. That rate means higher state costs for items such as school finance.

Colorado has a higher inflation rate and higher costs of living that might have a bigger impact on consumer spending, lewandowski said. Inflation rates reflect how much prices have increased since january 2021, and inflation costs reflect how much more the average u.s.