”Survey says” looks at various rankings and scorecards judging geographic locations while noting these grades are best seen as a mix of artful interpretation and data.
Buzz: The cost of living in Los Angeles and Orange counties is up 15% in three years. In the Inland Empire, it’s jumped 19%. Those are pretty much permanent hits to a family’s budget.
Source: My trusty spreadsheet looked at the January Consumer Price Indexes for Southern California and how the cost of living ballooned since January 2020, just before coronavirus upended the economy.
Topline
The short-term direction of inflation is mixed. January’s CPI shows L.A.-O.C. prices were up 5.8% in a year – and surprising bump up from 4.9% in December. But the Inland Empire’s 7.3% inflation rate was the lowest since September 2021.
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However, ignore recent trends and the intense debate about the Federal Reserve’s efforts to chill an overheated economy. No amount of cooling will erase the pandemic era’s wallop to a household’s checkbook.
Details
Ponder Southern California’s three-year inflation on prices of everyday things we buy.
Food and beverages: Up 19% in L.A.-O.C. and 23% in the Inland Empire. Grocery bills soared as labor shortages hit farmers and shippers and drought shrank harvests. And dining out offers no savings.
Housing: Up 15% in L.A.-O.C. and 22% in the Inland Empire. Putting a roof over one’s head is far pricier due to a pandemic-era rush for larger living spaces and skyrocketing utility bills.
Apparel: Up 5% in L.A.-O.C. and 22% in the Inland Empire. Consumers first bought comfortable clothes as work and learning went home, and then had a second buying spree for new wardrobes as workers went back to the office and students returned to classrooms.
Transportation: Up 19% in L.A.-O.C. and 22% in the Inland Empire. Soaring fuel prices made driving and flying far pricier. And parts’ shortages made new cars hard to…
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