Maine's economic forecasters have raised their inflation projections for this year and next while keeping their forecast for wage-and-salary employment growth at zero through 2031.
The Consensus Economic Forecasting Commission now expects inflation of 3.4% in 2026, up from 2.8%, and 3% in 2027, also up from 2.8%. Its later-year inflation forecasts remain 2.3%, according to a Nov. 4 recap from the state economist's office.
The office said the flat forecast reflects Maine Department of Labor data showing little net change in jobs for more than two years, along with near-term uncertainty and demographic constraints.
The commission raised its 2026 personal-income growth forecast from 4.1% to 4.3%. The office said that revision reflects higher forecasts for employee benefits, driven by health-insurance premiums, and for dividends, interest and rent. Personal income includes those sources as well as wages.
Members also discussed higher energy prices tied to geopolitical instability, Maine's reliance on heating oil and imported petroleum products, health-care challenges, an aging population and household affordability pressures.
