How Far Does a Dollar Go in California in 2016?

Date: August 15, 2016 Last Edit: August 17, 2016

Study ranks states on how much $100 will buy.

Small business owners who feel their dollar doesn’t go as far in California as it does in neighboring states now have confirmation of that.

An analysis from The Tax Foundation, based on statistics from the Bureau of Economic Analysis, says $100 in California actually only buys nearly $88.97 worth of goods. The state’s purchasing power was ahead of only New Jersey ($87.34), New York ($86.43), Hawaii ($85.62) and District of Columbia ($84.67).

Among neighboring states, California trailed Arizona ($103.73), Nevada ($102.35) and Oregon ($101.01).

Leading the country was Mississippi, where $100 would buy about $115.34 worth of goods.

The study points out that, in general, high incomes and high prices for goods go together, but states like Nebraska manage to have high incomes without high prices.

For more, read the BEA’s full news release.

Read the Tax Foundation’s nationwide map and overall analysis here.

Related Content: Small Business News | California | Economy

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