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Inflation / TABOR Growth Figure

Overview

2007 Denver-Boulder-Greeley CPI
Historical Denver-Boulder-Greeley CPI

Inflation is a component for the calculation of two constitutional limits on local government budgets. Article X, Section 20, ("TABOR") defines inflation to mean the percentage change in the United States Bureau of Labor Statistics Consumer Price Index (CPI) for Denver-Boulder (now Denver-Boulder-Greeley).

The actual Denver-Boulder-Greeley CPI figure is not released until near the end of February. Since this is too late for budgetary purposes, current year forecasts are available quarterly. Both the Governor's Office of State Planning and Budgeting (OSPB) and the Legislative Council prepare forecasts that are released in late March, June, September, and December.

Before the release of the CPI, many local officials use the forecasts to calculate the limitations on "fiscal year spending" and property tax revenue in Article X, Section 20 (7)(b) and (7)(c) respectively.

After its release, the actual CPI should be used to re-calculate the limits, which can then be compared to the actual amounts budgeted. This is the first opportunity for local governments to determine whether their budgeted amounts in property tax revenues and "fiscal year spending" exceed the limitations.

Denver-Boulder-Greeley CPI:

  • BLS Mid-Year July '08 to June '09 CPI : - 0.621%
  • Legislative Council (2009 Forecast-September '09): - 0.4%
  • OSPB (2009 Forecast-September '09): -1.6%

Historical Denver-Boulder-Greeley CPI:

Year Change CPI
2008 3.897% 209.903
2007 2.2% 202.029
2006 3.6% 197.7
2005 2.1% 190.9
2004 0.1% 187.0
2003 1.1% 186.8
2002 1.9% 184.8
2001 4.7% 181.3
2000 4.0% 173.2
1999 2.9% 166.6
1998 2.4% 161.9
1997 3.3% 158.1
1996 3.5% 153.1
1995 4.3% 147.9
1994 4.4% 141.8
1993 4.2% 135.8
1992 3.7% 130.3
1991 3.8% 125.6

For questions regarding the use of the CPI (inflation) figure for revenue limit calculations please call DOLA at 303-866-2156.

For more information regarding the actual CPI please visit the United States Bureau of Labor Statistics (BLS).

For projections of the CPI contact the following state agencies:

  • OSPB (Office of State Planning and Budgeting)
    See most recent quarterly revenue and economic forecast "Colorado Economic Perspective".

  • Legislative Council
    See most recent issue of Focus Colorado: Economic and Revenue Forecast found under Information Resources --> Economic Studies --> Economic Forecasts