
Southern California consumers continue to get some help on the inflation front as local prices dropped 1% over the last year, the U.S. Bureau of Labor Statistics reported today.
From August to September, prices in the Orange County-Los Angeles-Riverside area rose 0.3%.
Nationwide, inflation was down 1.3% over the last 12 months and edged up 0.2% from August to September.
SoCal consumers got the biggest help from gasoline prices. Although fuel prices are beginning to increase — unleaded gas was up 2.4% from August to September — they are down 17.4% from September 2008.
Unleaded gas is $3.005 a gallon in Orange County today, according to the AAA Fuel Gauge, down from $3.137 a month ago. A year ago, local consumers were paying $3.367. The record high was June 19, 2008 at $4.598.
Apparel was the only major SoCal inflation category to see an increase in prices, up 0.5% from August to September and 0.3% over the last year.
All other major price categories fell in the last 12 months:
Read the national September consumer price report HERE.
I wouldn't mind a few years of deflation so we could go back to 1995 prices but if you look at the graph the inflation may start hitting yearly next year. How much? That is the question.
I forgot how much more expensive gas is in SoCal....moved to South Carolina in 2005.
Today we are paying about $2.25 for gas.