Southern California shoppers faced inflation above the national rate in March.
According to regional slices of the Consumer Price Index, inflation in Los Angeles and Orange counties ran at a 3% annual rate in March after rising 0.9% in the previous two months. In the Inland Empire, prices rose 2.5% over the year after increasing 1% over two months. And San Diego’s inflation ran 3.8% for 12 months and 0.8% for two months.
Nationally, prices were up 2.4% over the year after rising 0.7% over two months.
The fresh stats show inflation has largely improved in the past year. March 2024 inflation rates were down in L.A.-O.C. (from 4%), Inland (down from 4.3%) and across the U.S. (from 3.5%). San Diego inflation is up from 3.6% in March 2024.
Here’s what drove local inflation in the year ended in March …
Rent: Up 4.9% in L.A.-O.C. and Inland. Up 5.9% in San Diego.
Food: Up 4.1% in L.A.-O.C. vs. 3.7% increase Inland. Up 4.8% in San Diego.
Energy: Off 2.4% in L.A.-O.C. vs. 4.9% decrease Inland. Down 2.8% in San Diego.
Big-ticket durable items: Off 2.9% in all three regions.
Other goods, minus food: Off 0.4% in all three regions.
Services, minus rent: Up 4% in L.A.-O.C. vs. 2.7% increased Inland and in San Diego.
Jonathan Lansner is business columnist for the Southern California News Group. He can be reached at jlansner@scng.com
