IFO Monthly Report Features CPI Increase, Higher Gas Prices

The Independent Fiscal Office (IFO) posted a monthly economic update featuring recent data showing that the Consumer Price Index for the Philadelphia metro region grew by 4.9% in June, the largest increase since June 2008. This is due to strong gains in gasoline prices, as well as both new and used cars and trucks. The report notes that impact fee revenues for 2022 could increase if gas prices continue to remain at higher levels. Click here to learn more.