Wyoming’s high inflation rate affects businesses, aspiring homeowners

SHERIDAN —- When Sophia Kuzara, manager of Cottonwood Kitchen + Home, opened her inbox in January, she saw a message from her Rapid City-based vendor announcing a significant price increase on specialty coffee beans.

“When I first got the email about the price change, I genuinely thought it was a typo,” Kuzara said.

She called the vendor, who explained the email was correct, and prices of coffee beans had increased everywhere, especially for local businesses that couldn’t afford to buy in bulk like larger chains. Kuzara had no choice but to up certain varieties of Cottonwood’s specialty coffee beans from $15.50 to $22 a pound.

“There’s been a couple of times where customers have walked away,” Kuzara said. “But as far as our costs versus our prices, to just keep it fair, we're only increasing (our prices) as our costs increase.”

Kuzara said it’s one way inflation has affected both the business and its customers.

According to a recent Wyoming Cost of Living Index released by Wyoming Administration and Information (A&I) on Friday, statewide inflation reached 4.6% in the fourth quarter of 2024. Food and housing hit even higher inflation rates at 5.6%. Wyoming’s rate was higher than the U.S. Inflation Rate (Consumer Price Index, CPI-U), which hit 3%, according to the study.

Food

Gillette resident Nick Jussin said inflation most often strikes at grocery stores and restaurants, where he continues to see prices higher than what he expects. Fixing the issue, though, isn’t an answer he has quite yet.

“I don’t know what they can do to improve it,” Jussin said. “The federal government could quit printing money.”

Bob McVey of Sheridan said he’s noticed the inflation as well, but doesn’t see it as a lasting negative.

“The economy, it’s like a tide,” McVey said. “We’ve had a bunch of recessions… it’s a cleansing process.”

At Verdello Olive Oils and Fine Foods, another specialty kitchen and food store in downtown Sheridan, inflation is less of an economic indicator and more of an ordering nightmare. Manager Lindsey Vredenburg said many of the store’s vendors have raised shipping prices, preventing Verdello from receiving the foods they want to keep in stock without raising the prices.

“We brought in a new ravioli not too long ago,” Vrendenburg said. “We were really excited about it, and we turned around to reorder, and they had doubled their shipping cost.”

Vredenburg said Verdello spends a lot of time researching to find the best products and prices, a process that’s only been prolonged with increased shipping and product costs.

“It’s been hard for us,” Vredenburg said. “We’re trying to keep our prices as absolutely fair as possible.”

The store also hosts cooking classes through Verdello Cooking School, with fees ranging from $45 to $80 depending on the type of class. While classes often sell out, Vrendenburg said they aren’t a huge moneymaker for the business, between rising grocery costs and paying employees’ wages. Vrendenburg said the store is looking into newer, affordable formats while still keeping the cooking school open.

“The reason we do our cooking classes is to do something for the community and to bring more awareness to our store,” Vredenburg said. “But it has gotten scary with the grocery costs.”

Housing

Coupled with Wyoming’s high food prices at the end of 2024 are housing inflation rates of 5.6%.

According to the Wyoming A&I study, the average rental rate for an apartment in Sheridan County was $862 at the end of 2024, a 4.6% increase from the previous year. Renting a home costs residents an average of $1,546 per month according to the study.

Harlie Holt, a donation ambassador with Habitat for Humanity Restore, said she has rented apartments in Sheridan since 2019. She said the process is not for the faint of heart and has watched her friends also go through plenty of frustrating experiences while trying to find proper housing.

“If you have pets and children, it’s even harder to find (rentals),” Holt said.

Holt and her husband Dave hope to settle in Sheridan permanently. With increased costs and a lack of affordable options, Holt said it’s not yet a possibility for their family.

“With prices being so high, and being in Sheridan, we’re just stuck to renting,” Holt said. “Maybe I can get a house in the future, but right now, I don’t see it happening with prices and with the careers we have.”

Despite these setbacks, the study reports Sheridan is not the county with the highest cost of living in the state. Sheridan County sits right at the state’s average, with a cost of living index of 100. Teton County holds the state’s highest cost of living index at 178.

For Kuzara, it’s a matter of riding the waves. She said Cottonwood and its employees are working to adjust and forge paths forward.

“In our world today, everything is just kind of crazy day-to-day…we’re just going to keep on living and doing our thing, and we’re going to be OK,” Kuzara said.

This story was published on April 24, 2025.