Official inflation annual rate for LA-OC in July was 2.7%, Inland Empire at 3.4%.
Has the cost of living improved enough? What might this trend be to the Federal Reserve’s quest to chill the worst bout of inflation in four decades with high interest rates?The official inflation annual rate for LA-OC in July was 2.7% – and that’s down from 7.7% a year earlier.This mirrors national trends – 3.2% for July vs. 8.5% 12 months ago.Start with the stuff you buy.
Costs for things we consume are down as pandemic-era supply-chain woes are fixed and shoppers’ buying habits return to relative normalcy.Service costs stay high because worker shortages have bumped up wages – costs typically passed along to consumers in labor-intensive industries. Or ponder an index tracking all services, minus rent. LA-OC’s 3.4% inflation compares to 7.9% last year. Inland, 5.3% in July vs. 6.1% last year.
I know, you’re thinking “What kind of price measurement strips out life’s essentials?” But the theory is that this metric can measure the less-volatile parts of the economy’s cost structure. Plus, let’s be clear: Returning inflation to historic norms doesn’t erase the damage the recent price surge did to household budgets.Those food and energy costs economists occasionally ignore are cooling – but July’s report reminds us they remain painful.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
10 July 4th fireworks shows lighting up Southern CaliforniaCelebrations include elaborate fireworks displays, live music, family activities and more.
Read more »
Fourth of July fireworks and drones will sparkle across Southern CaliforniaKnott’s Berry Farm, Marina del Rey, Long Beach, and the Hollywood Bowl will all feature patriotic sky shows in honor of the Fourth of July.
Read more »
Aquarium of the Pacific's new Southern California Gallery to open 4th of July weekendIf you plan on heading to Long Beach to visit the Aquarium of the Pacific soon, you're in for a treat!
Read more »
How Southern California casinos are celebrating the Fourth of JulyCasinos will host fireworks, specialty cocktails and dining specials for the holiday.
Read more »
Here's Southern California's sizzling hot Fourth of July holiday weekend forecastHeat warnings and advisories are in effect Friday as the warmest weather of the season settles in for the holiday weekend in Southern California.
Read more »
Southern California Hotel Workers Strike Ahead of Fourth of JulyThousands of hotel employees in Southern California walked off the job Sunday ahead of the Fourth of July holiday, demanding better pay and benefits, and less burdensome workloads
Read more »