February 06, 2025
In 2024, the annual average price of all items in the Detroit metropolitan statistical area (MSA) rose by 3.0 percent over the year, slightly exceeding the U.S. increase of 2.9 percent. In 2022, the average price of all items rose by 8.2 percent, marking the steepest increase in more than 40 years. Since then, prices have continued to climb, albeit at a slower pace. A similar trend was observed nationally, where the average price index of all items has continued to rise at a pace lower than its peak of 8.0 percent in 2022.
Annual Averages, 2019—2024
Source: Consumer Price Index, U.S. Bureau of Labor Statistics
The average price of all items less food and energy in the Detroit MSA advanced by 3.6 percent in 2024, 0.2 percentage points above the national increase over the same period (+3.4 percent). Food costs in the Detroit metro area rose by 1.1 percent in 2024, half the rise of U.S. food prices (+2.3 percent). Locally, the annual average price of energy inched up by 0.2 percent, while energy prices fell for the second consecutive year in the U.S. (-1.3 percent).
Annual Averages, 2024
Source: Consumer Price Index, U.S. Bureau of Labor Statistics
Beginning in 2025, CPI data for the fuels and utilities inflation metric as well as several groups within this major consumer expenditure category will no longer be published at the metropolitan area level. In 2024, fuels and utilities costs advanced by 3.5 percent in the Detroit metro area, half of a percentage point above the U.S. average rate (+3.0 percent). This was far from the 11.1 percent increase in fuels and utilities costs for Detroit in 2022. The energy services price index, which includes electricity and utility (piped) gas services, recorded an annual average increase of 2.1 percent, 0.8 percentage points above the national rate (+2.9 percent).
Annual Averages, 2019—2024
Source: Consumer Price Index, U.S. Bureau of Labor Statistics
For more information on the Detroit-Warren-Dearborn area Consumer Price Index, visit the U.S. Bureau of Labor Statistics website.
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