Local inflation — averaging 2.53% this century — remains volatile. So far this year, L.A.-O.C. averaged a 2.85% inflation rate. This past year, inflation climbed 3.8percent in the 2 counties, according to the indicator. In 2009-2017, inflation averaged 1.46% yearly after conducting 3.44% in 2000-2008.
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The CPI tracks rental prices by polling consumers vs. other rent dimensions that come from surveys of landlords. So far this year, this L.A.-O.C. lease index climbed 5.6% compared with 5.2percent in 2018 and 4.9percent in 2015-2017. Between 2009 and 2014, nearby rents climbed on average 2.55percent per year.
7. Size matters: Large cities in Western nations saw consumer costs in April up at a 3% annual pace. Smaller Western cities? 2.7% inflation rate.
In general inflation at Los Angeles and Orange counties has been climbing at a 3.3% annual rate in April vs. (1) 2.7% a month earlier; (two ) 4% a year before; (3) 2% nationwide; and (4) 2.9% in Western states.
6. The expense of big-ticket “lasting products ” (like appliances and furniture) have been -0.2% lower within 12 months.
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Here are eight other L.A.-O.C. inflation tendencies you need to be seeing …
Rent inflation in Los Angeles and Orange counties Conducted in a 12-year high in April.
4. Costs of all services were 4.1% over one year ago.
Housing eats up the largest share of local household budgets. By CPI math for April, entire housing costs in L.A.-O.C. rose 4.6percent in the past year. And minus the cost of shelter, neighborhood inflation will be in a 2.3% annual rate.
Local rents have surged as empty flats became scarce during an economic recovery that’s generated 1.19 million jobs and nowhere near adequate housing choices in Southern California because 2010.
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2. Food prices rose 2.2% annually. Eating out expenditures rose 5.0 percent; food-at-home dropped -0.4% in 12 months.
The U.S. Bureau of Labor Statistics’ Consumer Price Index for the two counties shows the cost of local leasing was up at a 5.4% annual rate in April vs. 5.1percent a year earlier. This is the greatest April reading since 2007 when the rate was 6.4%.
8. 4 percent while Seattle had 2.4% and 2.3% for Phoenix.