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08-08-22 CC Packet
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08-08-22 CC Packet
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8/8/2022 4:05:50 PM
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7/25/2025 11:50:38 AM
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City Meetings
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City Council
Meeting Doc Type
Agenda Packet
Date
8/8/2022
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CURRENT ECONOMIC FACTORS IMPACTING EMPLOYEES <br />Inflationary pressures have been significantly impacting employees for the past 18 months. It is <br />expected that these factors will remain in place for the foreseeable future. <br />Since January of 2021, CPI has risen from 1.4% to 9.1%. Regionally, the measure is higher, at 9.8% <br />Gas prices in Texas have risen from $2.762 to $3.952 over the past year <br />The US Dept. of Agriculture (USDA) projects food costs to increase between 7.0 and 9.5% in 2022. Over <br />the past two years (April 2020 to April 2022) food costs have risen 12.65%. <br />Zandi, Chief E <br /> <br />
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