ARKANSAS, USA — Inflation continues to boost sales tax revenue in Northwest Arkansas’ four largest cities, which cumulatively reported a 16.75% gain from a year ago in their August data. The combined revenue reported in August totaled $9.216 million, a monthly record for the region in August.
Year-to-date through the August report, the four cities reported revenue totaling $77.664 million, up 30.6% from the same period a year ago.
Bentonville, Fayetteville, Springdale and Rogers each reported double-digit growth from the same month last year. The August revenue is generated from 1% of the local sales tax each city collected on goods and services in June. The U.S. Department of Commerce reported consumer prices rose 9.1% in June, the biggest increase in 40 years. The following month the CPI moderated to 8.5% gains from the prior year.
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