Over-the-year percent change in CPI-U, Los Angeles-Long Beach-Anaheim, CA, March 2020March 2023, Table A. U.S. Inflation Calculator: 16352023, Department of Labor data 2021 CPI and Inflation Rate for the Area prices were down 0.3 percent over the past month, up 5.1 percent from a year ago Prices in the Los Angeles area, as measured by the Consumer By CPI math, here are Octobers inflation rates for key LA-OC spending categories . He can be reached at jlansner@scng.comRelated Articles April 12, 2022. You can find our full analysis for June 2022 here. Atlanta at 7.9%. And what will happen to interest rates if inflation continues to jump? Inflation rates went as high as 14.93%, causing the Federal Reserve led by Paul Volcker to take dramatic actions. They are tossing more demand into an economy that is already awash with money. And the restaurant chain said it will consider further price increases if inflation keeps rising. We keep thinking that beef is going to level up and then go down, and it just hasnt happened yet, said John Hartung, the companys chief financial officer. Inflation jump in LA-Orange County biggest since 1980 CA Inflation: 40-Year-High Spike Costs Californians Thousands The inflation rates are calculated using the Consumer Price Index, which is published monthly by the Bureau of Labor Statistics ( BLS) of the U.S. Department of Labor. 2021 Inflation (2) This index series was calculated using a Laspeyres estimator. Prices around the greater Los Angeles area were 7.5 percent higher in January over the same month a year earlier. Other economists believe the problems are far more widespread than the persistent supply hiccups. In February of this year, the regions inflation rate was 1.6% on a year-to-year basis. Prices for food at home decreased 0.8 percent, with lower prices in four of the six grocery categories. In California, where residents paid some of the nations highest prices for gas, rent, utilities and food, the effects have been acute. The Consumer Price Index historic data (1914-2023) is also available on request; the file will be provided via e-mail in ZIP format. California Consumer Price Index - California Department of Some Bay Area consumers say they are feeling the inflation and price pinch. Housing | The price of everything is skyrocketing, said Carolyn Sharp, a Berkeley resident. Investors Who Bought Gold to Beat 2021's Inflation Surge Are Still Waiting to Cash In. In the United States overall, the monthly inflation cost in October 2022 was highest within transportation ($270), followed by energy ($147), shelter ($111), and food ($110). Monthly inflation In addition, local indexes are not adjusted for seasonal influences. Right now, every signal were seeing is positive, CEO Chip Bergh told analysts. Local data are then combined to obtain a U.S. city average. Thats 3.1 points BELOW the inflation rate. The Associated Press and Patch Editor Paige Austin contributed to this report. Food prices were 7.3 percent higher. Economy | US inflation falls to lowest level since May 2021 had the fifth-lowest inflation rate, when you look at the latest inflation reports for the 23 metropolitan areas tracked by the Bureau of Labor Statistics. California Inflation The index for all items excluding food and energy was 2.8 percent higher. Western Information Office - Bureau of Labor Statistics Over the year, the index for all items less food and energy advanced 4.3 percent. There were few signs that increases will slow significantly anytime soon. The Consequences of Declining Fertility for Social Capital. Due to a combination of higher inflation rates and higher average household spending, inflation is imposing the greatest monthly costs on families in the states of Colorado ($774), Utah ($751), and Arizona ($688). In December, economists at the University of Pennsylvanias Wharton School estimated that the average household had to spend $3,500 more than in 2020 to buy an identical basket of goods and services. The index for all items less food and energy advanced 4.3 percent over the year. Just as price pressures in some areas ease, inflation in other parts of the economy" picked up, said Sarah House, an economist at Wells Fargo. April 12, 2022. The jump confirmed what everyday Americans already knew: Prices on everything from airfares to orange juice were going up faster than wages. Even if prices stop increasing altogether, the inflation that has already occurred will cost the average American household $8,616 over the next 12 months. %PDF-1.6 % All taxes directly associated with the purchase and use of items are included in the index. Wages were rising, too, but the historic rate of inflation hit wage earners particularly hard because paychecks werent keeping up. Prices increased 13.3 percent from January 2021 to June 2022, costing the average American household $718 last month alone. How the American middle class has changed in the past five The upshot is that inflation is likely to remain uncomfortably high.. In the Bay Area, prices were up 4.2 percent in December (the most recent month data was available as of Thursday) compared with the same month in 2020.