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Northwest Arkansas sees boost in sales tax revenue after data released from August report

Due to inflation, sales tax revenue in Northwest Arkansas’ four largest cities has seen a boost, cumulatively reporting a 16.75% gain from this time a year ago.

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.

To read more on the report, visit our partners at Talk Business & Politics. 

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