INFLATION

“Shelter is a big deal. It’s a full-third of what the index is composed of,” Weiler said. “It’s just in a nick of time that housing prices are beginning to mellow. Otherwise, with that 33% weight, shelter could have us ahead of the United States in ation rate pretty quickly.” at priced many renters out of the market and home prices in Colorado have attened, with the state’s median sales price unchanged from a year ago at $520,000. Median prices in the Denver metro were down 1.4% from a year-ago in January. at’s because CPI takes into account the new cost of homeownership and buying a house at interest rates that are double what they were a year ago. For existing homeowners, housing

Home sales have slowed as interest rates added hundreds of dollars to a monthly mortgage payment.

But Denver’s cost of housing still went up 10% in January overall.

“I am not a musician, but I have experienced the fun, pride in accomplishment and sense of belonging to a creative community which their notes describe,” Andresen said, quoted on the Bringing Music to Life website. “There is not a downside to participating in this.”

How To Participate

For donations: Visit bringingmusictolife.org. There is a map with all the statewide locations, with the Denver locations being:

• Kolacny Music, 1900 S. Broadway (Platt Park/Overland)

• Twist & Shout Records, 2508 E. Colfax Ave. (Congress Park/City Park)

• Luther Strings, 2018 S. Pontiac Way (Virginia Village) costs probably didn’t budge much in the past year. Between the two groups, home owners saw a 9.2% increase in costs.

The website also has information on how to donate to the repair fund. For Schools: Schools that have a majority of students receiving free or reduced cost lunches should apply for instruments through March 31 using the online application form. The organization will match qualifying schools with donated instruments.

Meanwhile, renters paid even more, or approximately 12.7% compared to a year-ago January. at increase is roughly a third more than what homeowners experienced. In other words, if new homeowners are saddled with a mortgage that is $100 higher than what it would have been a year ago, renters are paying $133 more.

“Rent is pushing up faster than what they call the ‘owners’ equivalent of rent,’” Weiler said. “So, yes, people who don’t own are experiencing faster in ation than people who own homes. And that’s a pretty big di erence — a 33% greater cost basically.” is story is from e Colorado Sun, a journalist-owned news outlet based in Denver and covering the state. For more, and to support e Colorado Sun, visit coloradosun.com. e Colorado Sun is a partner in the Colorado News Conservancy, owner of Colorado Community Media.