The Average Annual Change in the CPI-U was 2.13%, making the Allowable Growth Factor for the 2018-19 Tax Cap Calculation 1.02.
A key factor in calculating the tax levy limit is the allowable levy growth factor, which is the lesser of 1.02 OR (1+ the inflation factor), with a minimum of 1.0. According to the US Bureau of Labor Statistics, the inflation factor or the change in the CPI, for December has increased by 0.1 %, rising 2.13% over the last 12 months. This increase assigns 1.02 as the allowable growth factor for the 2018-19 tax cap calculation.
You may review the recent news release from the US Bureau of Labor Statistics pertaining to the CPI-U by using the following link: https://www.bls.gov/news.release/pdf/cpi.pdf.