Lubbock Economic Index Rises and Consumer Price Index Falls Slightly

Lubbock’s Economic Index is on the rise again.

The LEI for August 2010 posted a slight gain to 125.0, up from July’s 124.6, but is still down from August 2009’s 126.1. August 2010’s rate is down 6.6 percent from the LEI’s peak of 134.0 in September 2008.

Increases in new housing permits and strengthening construction activity have helped to raise the economic index, along with a slight increase of taxable retail spending from the same time last year. 1,100 private sector jobs have been added over the last year.

Lubbock’s Consumer Price Index for August 2010 has dropped, dipping the overall rate of year-over-year price increase in Lubbock to 0.9 percent, down from July’s 1 percent.

The food/grocery CPI fell in August 2010, seeing price declines of 3.5 percent from one year ago, the housing portion remained steady at 1.5 percent, and utilities are increasing at a rate of 1.5 percent in August, compared to the 1.4 percent rate of year-over-year increase in July.