San Diego County inflation grew at the slowest pace since 2021 in August and September as the price of gas and used cars fell.
Inflation rose 0.9 percent over the two-month period, according to data released Thursday by the U.S. Bureau of Labor Statistics Consumer Price Index. It’s the lowest rate of change since November 2021, and a big change from earlier this year, when inflation was rising about 2% every two months.
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However, that’s not all great news for San Diegans: inflation still rose 8.2% in a year, close to its high of 8.3% in May, and gas prices have rapidly risen again in California. towards the beginning of October. Also, compared to other metros, San Diego has been linked to the highest rise in inflation over the two-month period.
San Diego prices in August and September fell in three key areas: motor fuel fell 7.3%, used vehicle prices fell 4.8%, and food fell 0.6% .
Of the 12 subways surveyed by the BLS in September, Boston and San Diego had the highest rate with 0.9%. Riverside was unchanged and Denver and Washington, DC were both down 0.2%.
The biggest difference between San Diego and other markets has been rising energy costs, higher gasoline prices, and a smaller drop in transportation costs.
Chris Thornberg, economist and founding partner of Beacon Economics, said a slight slowdown wasn’t much to write about. He said that even if San Diego County had a 0.9 percent increase every two months, that would still result in a higher-than-normal rate of inflation.
“Slowing down a bit isn’t stopping,” he said.
Thornberg said he doubts the accuracy of the prediction that inflation will ease rapidly over the next year or so.
“You don’t get a big wave of inflation and you watch it go away in 12 months. It just doesn’t happen, “he said.” There’s a lot more momentum in the inflation statistics. “
Moving from the two-month data, the bigger picture of inflation looks difficult.
On a yearly basis, Tampa had the largest increase in inflation – 10.5 percent – among 12 metros. Other subways with higher inflation than San Diego were Dallas (9.2%), Chicago (8.7%) and Riverside (8.4%). Washington, DC, had the lowest with 6.5%.
On a yearly basis, these are the areas where prices rose the most in San Diego County in September:
When volatile food and energy costs were removed from the overall inflation rate, San Diego County experienced a 7.6% increase from September 2021 to September 2022.
The highest inflation rose during the pandemic in San Diego was 8.3% per annum in May, but the region has seen worse in its history. Inflation increased by 11% in 1974 and by 13.5% in 1981.
Nationwide in September, the South recorded the largest annual inflation jump at 8.7%, outpacing the West (8.3%), the Midwest (8.1%) and the Northeast (7%). ,2%).
What is the CPI rate for July 2022?
Consumer Price Index Unchanged Month, Up 8.5% YoY, July 2022: The Economics Daily: US Bureau of Labor Statistics. The .
What is the CPI this month? For the month, the index remained unchanged before the seasonal adjustment. The consumer price index for urban and white-collar workers (CPI-W) has increased by 8.7% over the past 12 months to an index level of 291.629 (1982-84 = 100). For the month, the index fell 0.2% before the seasonal adjustment.
What is the current CPI rate for 2022?
Non-seasonally adjusted CPI measures The consumer price index for all urban consumers (CPI-U) has increased by 8.2% over the past 12 months to an index level of 296.808 (1982-84 = 100). For the month, the index rose 0.2% before the seasonal adjustment.
What is the CPI for June 2022?
Non-seasonally adjusted CPI measures The consumer price index for all urban consumers (CPI-U) has increased by 9.1% over the past 12 months to an index level of 296.311 (1982-84 = 100). For the month, the index rose 1.4% before the seasonal adjustment.
What is inflation at right now 2022?
The annual inflation rate in the United States fell for the second consecutive month to 8.3% in August 2022, the lowest in 4 months, from 8.5% in July but above market forecasts. 8.1%. The energy index rose 23.8%, down from 32.9% in July.
What is the estimated CPI for August 2022?
The all-item index increased 8.3% for the 12 months ending August, less than the 8.5% increase for the period ending July. The index of all items minus food and energy has increased 6.3% in the past 12 months.
What is the estimated CPI for July 2022?
The all-item index increased 8.5% for the 12 months ending July, less than the 9.1% increase for the period ending June. The index of all items minus food and energy has increased 5.9% in the past 12 months.
What is the CPI forecast for 2022?
Forecasts from different agencies differ, putting CPI inflation in the United States between 1.69% and 4.30% per cent in 2022 and around 2.5% in 2023. Almost all agencies have predicted that the CPI inflation will decline in 2022 compared to 2021.
What is cost of living increase San Diego?
| Category | Compared to the national average |
|---|---|
| Dwelling | 25.6% |
| Transport | 11.1% |
What is the average increase in the cost of living this year? Between March 2021 and March 2022, the index of all items increased by 8.5%, before the seasonal adjustment.
What is the CPI rate for 2022?
The consumer price index rose 8.5% for the year ended March 2022, following a 7.9% increase from February 2021 to February 2022.
What is the current CPI today?
Non-seasonally adjusted CPI measures The consumer price index for all urban consumers (CPI-U) has increased by 8.2% over the past 12 months to an index level of 296.808 (1982-84 = 100). For the month, the index rose 0.2% before the seasonal adjustment.
What will the CPI be for 2022 UK?
Open letters between HM Treasury and the Bank of England, September 2022. CPI inflation was 10.1% in July 2022, resulting in an open letter from the Governor of the Bank of England to the Chancellor on September 22, 2022. The Chancellor said replied to the Governor on September 22, 2022.
What is the current CPI rate for 2022 in California?
Rounded to the nearest 1 percent, that’s an increase of 5.561 percent. Accordingly, prepare your 2022 rating list using an inflation factor of 1.02.
What is the current inflation rate 2021?
The US inflation rate is 8.20%, up from 8.26% last month and 5.39% last year. This is above the long-term average of 3.27%.
What is the current 2022 inflation rate? Consumer prices rose 9.1% from the year ending June 2022, the largest increase in 40 years: The Economics Daily: US Bureau of Labor Statistics. The .gov means it’s official.
What is the current inflation rate from 2021 to 2022?
The consumer price index increased by 8.5% for the year ended March 2022, following a 7.9% increase from February 2021 to February 2022. The increase of 8.5% in March it was the largest 12-month advance since December 1981.
What is the inflation rate right now?
The current inflation rate in the United States is 8.2% (for the 12 months ending September 30, 2022, down from 8.26% in August).
What is the inflation rate right now?
The current inflation rate in the United States is 8.2% (for the 12 months ending September 30, 2022, down from 8.26% in August).
What is the inflation rate right now 2022?
The consumer price index rose 8.5% for the year ended March 2022, following a 7.9% increase from February 2021 to February 2022.
What is UK inflation rate 2022?
The consumer price index (CPI) rose 9.9% in the 12 months to August 2022, down from 10.1% in July. On a monthly basis, CPI increased by 0.5% in August 2022, compared to an increase of 0.7% in August 2021.