Utah’s Economy: Prices, Income and Purchasing Power in Utah

Utah's Economy MayHow does the cost of living in Utah compare to other states? This is an often asked question with no official answer. But now “for the first time…businesses ┬áconsidering relocating or establishing new plants have a comprehensive and consistent measure of differences in the cost of living and the purchasing power of consumers nationwide.” This quote is from a press release of the Bureau of Economic Analysis (BEA), U.S. Department of Commerce April 24, 2014. The BEA has developed regional price parities (RPPs) which measure geographic differences in the price levels of consumption of goods and services relative to the national average. That is, RPPs measure the differences in the price levels of goods and services across states and metropolitan areas.

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