The overall inflation rate for LA-Orange County was 4.9% annual rate in December – the lowest in 15 months.
, consumer prices were rising 7.5% in November, the lowest in 14 months. Inland Empire inflation rose 8.7% for all of 2022 and 5.8% in 2021., a cooling pace that’s now run for six months. But the over-analysis of the CPI’s tracking of a broad basket of goods and services can mask how inflation affects a household’s finances.
But as families juggle expenses to pay the expanding bills, fears percolate that the Fed’s chilling rate hikes could become a job-killing recession.Look at cost categories tracked by the CPI on a local basis every month, and you’ll see December’s inflation was only slightly slower than the wallop to the wallet consumers suffered all year.
In L.A.-O.C., the CPI’s “food at home” category showed prices rose at an 8.8% annual rate in December. That was a slight improvement compared with 10.7% grocery inflation that came after a 4.6% jump in 2021. Electricity costs in L.A.-O.C. rose at an 8.6% annual rate in December, ending the year with 12.1% average power inflation. That followed a 12.5% jump in 2021. Inland Empire electricity rose at an 11% annual rate in December, part of a year in which electricity was 15.9% pricier after rising 18% in 2021.This L.A.-O.C. utility service was up at a 26.7% yearly rate in December vs. a 22.9% gain for all of 2022 and 14.7% in 2021. Inland Empire natural-gas inflation was 24.
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