Rent inflation at Los Angeles and Orange counties Conducted at a 12-year high in April.
3. Medical bills were rose 0.9% in the year.
Southern California salary up 4.5% — biggest raises in U.S., by this step
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7. Size matters: Large cities in nations saw consumer prices in April up in a 3% annual rate. Smaller Western towns? 2.7% inflation rate.
1. Gasoline cost 10.8% more in the previous 12 months, by CPI mathematics. Household energy cost 0.9% more.
5. Apparel prices were -3.3% decrease in the year.
4. Prices of services were 4.1% over a year ago.
6. The expense of big-ticket “durable goods” (like appliances and furniture) were -0.2% lower over 12 months.
Note: To the East, a new Consumer Price Index for both Riverside and San Bernardino counties showed the Inland Empire’s inflation rate for March at a 2.8% rate.
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Listed below are eight additional L.A.-O.C. inflation trends you should be watching …
Nearby inflation — averaging 2.53% this century — is volatile. So far this year, L.A.-O.C. averaged a 2.85percent inflation rate. Last year, inflation rose 3.8% in the two counties, according to the indicator. In 2009-2017, inflation averaged 1.46% yearly after conducting 3.44% in 2000-2008.
Housing eats the largest share of household budgets that are local. By CPI math for April, general housing prices in L.A.-O.C. rose 4.6% in the last year. And without the cost of shelter, local inflation would be at a 2.3% annual pace.
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The CPI tracks rental costs by polling consumers vs. other rent measurements that come from polls of landlords. So far this season, this L.A.-O.C. rent index rose 5.6percent compared with 5.2% in 2018 and 4.9percent in 2015-2017. Between 2009 and 2014, local rents climbed on average 2.55% per year.
This is the greatest April reading because 2007 if the rate was 6.4%.
2. Food prices rose 2.2% in a year. Eating out expenses rose 5.0%; food-at-home dropped -0.4percent in 12 months.
Local rents have jumped as empty flats became more scarce throughout an economic recovery which ’s created 1.19 million jobs and nowhere near enough housing options in Southern California because 2010.