Butkovitz Releases Monthly Economic Report that Compares Consumer Costs Increases in Philadelphia

Audit Date: April 27, 2011
Audit Categories
  • Financial
Controller: Alan Butkovitz

Executive Summary

For Immediate Release:
April 27, 2011

Contact: Brian Dries

Butkovitz Releases Monthly Economic Report that Compares
Consumer Costs Increases in Philadelphia
City Controller’s report finds higher education tuition
in city increases 69% in Last decade

Click here to view economic report

PHILADELPHIA – With the cost of living for Americans reaching record highs in March, City Controller Alan Butkovitz today released his monthly economic report that looks at a variety of consumer cost increases in Philadelphia. One of these cost increases includes a 69 percent jump in average tuition at the city’s top universities over the last decade.

La Salle University topped the list with an 80 percent increase over the last decade. La Salle’s tuition went from $18,020 to $32,500. St. Joseph’s had a 78 percent increase as its tuition went from $19,680 to $35,080 during the same period. Temple University realized a 60 percent increase and the University of Pennsylvania had a 54 percent increase during the same period.

The Controller’s monthly report also found that the average healthcare costs associated with congestive heart failure at hospitals around the city increased by 117 percent. Hahnemann University had the largest increase for the medical procedure as the cost went from $25,056 in 2001 to $81,353 in 2009, a 225 percent increase. Of the nine hospitals included in the report, Thomas Jefferson realized the smallest increase with 55 percent during the same period.

The average cost for a ticket to a professional sporting event in Philadelphia jumped by 20 percent over the last decade. The highest increase in average ticket prices was for a Phillies’ ticket, as it went from $13.60 in 2000 to $32.99 at the end of the decade. Other entertainment price increases included the doubling in costs for an adult general admission ticket to the Philadelphia Museum of Art, from $8 to $16 in the last decade.

The Controller’s economic report is compiled on a monthly basis and includes an Economic Snapshot and Forecast, as well as real estate information and other local statistics. These reports are circulated every month to assist key decision makers in understanding and anticipating local and national economic trends. Both of these documents are a useful tool for policy makers and analysts in understanding our regional and local economy.