Culture

Bay Area consumer prices hop higher as pace of inflation worsens


The inflation rate in the Bay Area as measured by consumer prices rose at a faster pace in April compared with the last several months, a disquieting sign that the bouts of elevated costs have yet to run their course.

Consumer prices hopped higher by 3.8% in the Bay Area in April compared with the same month the year before, the federal government reported Wednesday.

The annual inflation rate of 3.8% as reported by the U.S. Bureau of Labor Statistics was well above the year-to-year readings for the closely watched consumer price index for the Bay Area in recent months.

Over six months going back to last October 2023, annual inflation had been averaging about 2.6%.

The last time the region’s yearly consumer price index had topped 3% was in August 2023.

In February, the Bay Area inflation rate rose by just 2.4% on a yearly basis.

The nationwide consumer price index rose 3.4% in April, an indication that inflation is running hotter in the Bay Area than it is in the United States overall.

Despite the faster pace of price increases, the current inflation rate in the Bay Area is far less than it was in June 2022, when the region’s consumer prices jumped by a brutally high 6.8%.

 

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Source:: The Mercury News – Entertainment

      

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