
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, June 22, 1993                   TAG: 9306220081
SECTION: BUSINESS                    PAGE: B8   EDITION: METRO 
SOURCE: SANDRA BROWN KELLY STAFF WRITER
DATELINE:                                 LENGTH: Short

LIVING HERE IS STILL A BARGAIN

Roanoke's cost-of-living index fell 5.3 percentage points in the first quarter, according to a new index released Monday. But that doesn't necessarily mean prices dropped. It likely means prices in other areas went up.

The index, with 100 points representing the national average living costs, fell to 93.1 points in this year's first quarter, from 98.4 points in corresponding period of 1992.

"Since prices are fairly consistent in this area, we can go down when other areas go up," said Anne Piedmont, research director for the Roanoke Valley Economic Development Partnership. The partnership compiles the report of local prices for the national survey. The first-quarter figures were gathered in January.

The local index also was down from the previous quarter, when it was 94.7.

To the individual, Roanoke's below-average index reassures that a monthly budget won't get beaten up because of wide price swings. To an official group like the partnership, it means the area is more marketable to companies considering doing businesses in the area.

The survey is designed to measure the cost of middle-management lifestyles, Piedmont said. It is a compilation of prices of 59 items in six categories ranging from food to housing.

by CNB