“Say the Survey” looks at various rankings and scorecards looking at geographic locations, noting that these grades are best viewed as a mix of art and data.
Discussion: Inland Empire consumers suffer from the country’s highest inflation rate.
Source: The Consumer Price Index compiled by the Bureau of Labor Statistics reports inflation rates for the nation and 23 metro areas.
Inflation in Riverside and San Bernardino counties in my trusty spreadsheet hit an annualized rate of 6.8% for September, the highest rate in all 23 metropolises, and more than four times its rate of 1.7% in September 2020.
Los Angeles and Orange counties had an inflation rate of 4.6% for September — No. 13. That’s nearly quadrupled at 1.2% from a year ago.
The country’s inflation for September follows an annualized 5.4% pace, up from 5.3% a month ago and 1.4% a year ago. This is the biggest jump in the cost of living since 2008, driven by rising prices of goods ranging from gasoline to used cars to food and beverages.
Perhaps the only good news: The Social Security Administration said rising inflation in the country means all beneficiaries of the program will see a cost adjustment of 5.9% next year — the highest in 39 years and an average monthly increase of about $92 a month. growth check.
Consumers are feeling the pinch, and it’s an especially painful hit for those paying business costs such as higher wages.
This puts the Federal Reserve in a jam to keep inflation moderate and keep the economy running smoothly.
The central bank’s cheap currency policies have boosted the economy, especially the real estate industries and homeowners. But cooling the economy by making borrowing costlier could cool key economic engines.
Prices soar in California…
No. 4 San Diego: 6.5% inflation rate for September, No. 4 in 23 metros.
No. 23 San Francisco: 3.7% for August – lowest of 23.
Elsewhere in the country…
No. 2 Atlanta: 6.6% for August.
No. 2 St. Louis: 6.6% for August.
No. 5 Tampa: 6.1% for September.
No. 6 Dallas: 5.9% for September.
No. 7 Anchorage: 5.7% for August.
No. 8 Minneapolis: 5.4% for September.
No. 9 Houston: 5.3% for August.
No. 10 Seattle: 5.2% for August.
No. 11 Phoenix: 5.1% for August.
No. 12 Honolulu: 5% for September.
No. 13 Philadelphia: 4.6% for August.
No. 15 Baltimore: 4.5% for August.
No. 15 Chicago: 4.5% for September.
No. 15 Denver: 4.5% for September.
No. 15 Washington: 4.5% for September.
No. 19 Miami: 4.2% for August.
No. 20 Boston: 4% for August.
No. 21 Detroit: 3.9% for August.
No. 22 New York: 3.8% for September.
Jonathan Lancer is a business columnist for the Southern California Newsgroup. He can be contacted at [email protected]