By Economic and Business Research Center | AzBigMedia
In January, Arizona year-over-year total building permits saw a notable 22.1% decrease to 2,859, not seasonally adjusted. The number of single-family permits in the state also fell 33.7% to 2,240, while the number of five or more unit permits surged 278.9% to 557. The Phoenix Metropolitan area experienced a similar trend to the state, with single-family permits falling 21.3% to 2,114, and five or more unit permits rising 440.9% to 476. Building permits in the Tucson Metropolitan area saw losses in both single- and five or more-unit permits, with the former falling 7.6% to 326 and the latter decreasing 54.2% to 27. Of the counties, Apache, Coconino, and Yuma saw increases while Cochise, Gila, Graham, Maricopa, Mohave, Navajo, Pinal, Santa Cruz, and Yavapai observed decreases in year-over-year total building permits. -Delaney O’Kray-Murphy
The U.S. Consumer Price Index for All Items rose 0.3% over the month in February, slightly faster than the January gain of 0.2%. The shelter index was the driving factor in the February increase. The all-items index was up 2.4% over the year in February, the same as the prior month. The all-items less food and energy index was up 2.5% over the year. The gasoline index was down 5.6% over the year, while the electricity index was up 4.8%.
