CWU Student Price Index (SPI) Project | Central Washington University

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CWU Student Price Index (SPI) Project

Central Washington University Student Price Index (SPI) Project

Overview

Since January 2021, the Economics Association and the Department of Economics at Central Washington University have jointly led the Student Price Index (SPI) Project, an initiative designed to measure the true cost of college living in Ellensburg, Washington. The project is overseen by Dr. Yurim Lee and serves as a practical, data-driven complement to national inflation measures by centering student experiences.

Modeled to align with national standards from the Bureau of Labor Statistics while reflecting the distinctive spending patterns of CWU students, the SPI provides a locally relevant measure of inflation faced by students. Using data from a campus-wide expenditure survey, the project constructs a student-specific basket of goods and services, with weights that reflect how students actually spend their money.

Each month, students collect prices for items in this basket from a wide range of sources, including grocery stores, gas stations, restaurants, housing platforms such as Zillow, local business websites, and on-campus partners such as the Wildcat Shop and Dining Services. These data are used to compute the monthly Student Price Index and student inflation rates, offering timely insights into price changes that directly affect student life in Ellensburg.

The SPI Project is fundamentally student-centered and experiential. Students play a central role in survey design, data collection, analysis, and reporting, working closely with faculty in a collaborative, low-stakes research environment. Participants gain hands-on experience in economic analysis, data management, statistical software, and professional

communication, while also developing presentation and networking skills. Students regularly share their findings with the Kittitas County Chamber of Commerce and present at venues such as CWU Symposium of University Research and Creative Expression (SOURCE), the Pacific Northwest Regional Economic Conference, and the Economics Department’s Economic Outlook Conference. Through sustained engagement, the project not only enhances economic literacy and career readiness but also provides a meaningful opportunity for students to contribute to applied research with real-world impact. Support us by following the project on Instagram at @cwuecon_drlee!

Project Reach and External Interest

Since its launch, the SPI Project has attracted interest from peer institutions seeking to develop similar, student-centered cost-of-living indices on their campuses. Several colleges and universities have reached out to learn more about the SPI’s methodology, survey design, and implementation. The project team has provided guidance on best practices, data collection strategies, and student engagement models to support these efforts.

Institutions that have expressed interest include:

If you are interested or have any questions on the project, please feel free to reach out to Dr. Yurim Lee at yurim.lee@cwu.edu.

Are You a CWU Student and Interested in Participating?

Please fill out this form and we will reach out to you via your CWU email.

The CWU SPI has been presented at:

· 21st Economic Outlook Conference 2025, Department of Economics, CWU.

· Pacific Northwest Regional Economics Conference (PNREC) 2025 in Bellingham, Washington.

· CWU Symposium of University Research and Creative Expression (SOURCE) 2025.

· 20th Economic Outlook Conference 2024, Department of Economics, CWU.

· Pacific Northwest Regional Economics Conference (PNREC) 2024 in Bend, Oregon.

· CWU Symposium of University Research and Creative Expression (SOURCE) 2024: Session award recipient.

· CWU Board of Trustees Meeting, Feb. 2024.

· 19th Economic Outlook Conference 2023, Department of Economics, CWU.

· CWU Symposium of University Research and Creative Expression (SOURCE) 2023.

· Pacific Northwest Regional Economics Conference (PNREC) 2023 in Walla Walla, WA.

· CWU Symposium of University Research and Creative Expression (SOURCE) 2021: award recipient for the College of Business.

· Pacific Northwest Regional Economics Conference (PNREC) 2022 in Hood River, OR.

The CWU SPI has been featured in:

· CWU Pulse Magazine, Winter 2023

· The Voyage Magazine by the College of Business, Summer 2023

The CWU SPI has received:

· CWU Career Services Funding, 2025 ($492.93)

· 2025-26 Faculty-Student Provost Research Grant ($3,000)

· SLICE Funds – Feb. 2025 ($600)

· CWU Career Services Funding, 2024 ($1,111)

· 2024-25 Faculty-Student Provost Research Grant ($3,000)

· SLICE Funds – May 2023 ($1,721)

· 2023-24 Faculty-Student Provost Research Grant ($1,500)

· 2022-23 Faculty-Student Provost Research Grant ($3,000)

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