Inflation in the central Bay Area shrank by half a percent between June and August, but it was up 5.7 percent from a year earlier, according to data released Tuesday by the U.S. Bureau of Labor Statistics.
The data reflects inflation as measured by the Consumer Price Index for Alameda, Contra Costa, San Francisco, San Mateo and Marin counties.
Nationwide, inflation was up 8.3 percent from a year earlier, higher than expected. The higher-than-expected results may prompt the Federal Reserve, the nation’s central bank, to raise a key interest rate to curb the rising prices. That may cause a recession.
Regionally, inflation rose at 8.1 percent year-over-year in the Western U.S.
The two-month decline in prices in the central Bay Area were driven largely by lower gasoline prices, economist David Kong with the Bureau of Labor Statistics said Wednesday.
But energy prices are highly volatile, and the decline may not be a trend, Kong said.
Kong also noted that rents for residential property in the central Bay Area rose less than rents nationwide.
Central Bay Area rents were up 3.5 percent year-over-year compared to 7.8 percent nationally.
43 comments
Biden & Newsome 2024!!!
🤣🤣 wear your seatbelt and get your vaccine. Mask up. You’re a bot. Congratulations
The local news just reported that gas prices are now beginning to climb skyward again!
This article is already outdated and eclipsed.
WOW that’s what you really want? No words can describe just how idiotic of a statement that truly is
Thanks Dr Troll!
I needed a good laugh this morning. I can always count on you for funny ludicrous commentary.
@TraumaRx
You misspelled your candidate’s name. Could it be due to the fact that maybe, just maybe, he isn’t actually your candidate and that you’re only here to troll?
That’s a great team for illegal aliens, criminals, welfare deadbeats and brainwashed idiots who love to work and give all their earnings to the government.
Rock on troma rx!
Don’t worry, gas prices are already on the way back up…
…… and inflation just hit a record of 1949 after world war II! If the Democrat party along with their media minions are painting everything is just wonderful. Fasten your seatbelt folks you’re being lied to and more suffering is on the way!
Not mentioned is gallons of gas sold versus a year ago.
Amount of gas sold this year probably less because people don’t have the money to buy it. An increase in supply reduces price, simple supply and demand.
FED will raise another.75, stock market will drop, housing price drop and then terms “underwater” and bubble will be heard.
biden, . . . makin’ jimmy carter look like an Einstein.
You’re supposed to be ecstatic that after $2.99 per gallon gas was jacked up to about $7.00 per gallon it’s down to around $5.00. Make sure you genuflect.
Talk about polishing a turd.
When it goes up, it’s Putin’s fault.
When it goes down, the Biden administration takes a victory lap and Newsom crows about California leading the nation in something or other.
In case you haven’t figured it out, they think you are Forrest Gump.
You read posts here frequently don’t you? When gas prices were up that was considered Biden’s fault. When they go down why wouldn’t he get credit?
$5.79 at local station.
that’s strange.
owner where i fill up says gas up 40 cents since labor day…
that was this past Sunday.. then this afternoon on KCBS a story ran saying why has gas gone up in CA by 40 cent, but not other states…
side note: I know the article talks about August, but my budget doesn’t agree with that either…
Infalation has not gone down.
Gas up .29 in three days.
Food prices up.
Cable/internet/phone prices up.
All services up.
Restaurant proces up.
Clothing prices up.
Hardware prices up.
Insurnace costs up.
Everything is costing more now or will cost more soon.
I believe we are alrady in a resision and that a depression is looming.
When a one bedroom apartment in Concord costs $2700, the percent increase will be smaller year over year compared to other states with much cheaper rents. Only a misinformed voter would celebrate this achievement.
This is nothing that Paul Volcker couldn’t crush.
Because nobody wants to go anywhere with those gas prices and inflation everywhere else. Also gas prices may have gone down a little bit, but still not yet back to where they were prior to this Biden Admin.
Who makes this crap up.Raise prices sky high and when it goes down a little all is fantastic.How about back to when gas’s was $3.00.Then you can say ok things are better.Thanks Biden voters you should be proud you jerks.
Never trust a democrat around money.
NEVER.
It’s a temporary fix, supposedly to address the oil supply disruption that Biden claims was caused by Putin, and the war in Ukraine. At the end of March, Biden released a million barrels of oil a day from our oil reserve, but only for six months. The six months are just about up, and I have a feeling gas prices will also be up.
Biden and the Democrats are shoveling money at the economy to create inflation while the Federal Reserve is jacking up interest rates to stop inflation. It’s like you stomping on your car’s brake and accelerator as hard as you can at the same time.
@To Do List….Holding the brake down and stomping on the gas is called a “power stand’, a long lost method of entertainment in an automatic transmission equipped car, I have many years of experience. Unfortunately it wreaks havoc on your rear tire mileage, but it sure is fun. Smoke’em if you can.
The Biden junta is filled with operatives from the World Economic Forum, a think tank as well as a mafia-like organization that is infiltrating western governments. Many people believe that the WEF is trying to destroy the US and EU economies including commercial banks, so they can “ build back better”. The Fed is owned by US and European private commercial banks. The WEF want to replace current economy with a dictatorship of “ stakeholders” including UN, some private rent seeking corporations and NGOs run by Soros and other radical left billionaires. This is why the Fed is working against the regime. Hopefully the Fed can engineer enough of a slowdown prior to Nov to cause the people to oust the criminal regime.
And donkeys fly.
There’s nothing more useless than a Democrat.
The Biden administration has no answers to the challenges the country is facing, so administration officials have resorted to treating voters like they are stupid.
On Tuesday, President Joe Biden announced that “we’re celebrating” the signing of the Inflation Reduction Act, the climate bill that Democrats have pretended will ease inflation. Meanwhile, inflation for the 12 months ending in August sits at 8.3%, virtually the same as the July figure of 8.5%. Food prices are up 11% over the last 12 months. Biden’s “celebration” of beating inflation took place while the stock market hit a two-year low after the worse-than-expected inflation report.
Meanwhile, Vice President Kamala Harris claimed during an appearance on Meet the Press that “we have a secure border.” As my colleague Conn Carroll wrote, “Just this year, over 500,000 migrants have successfully crossed the border illegally without being caught by the Border Patrol. Deaths are at an all-time high. Cartels are making over a billion dollars a year smuggling migrants across the border.”
Harris’s claim that the border is secure is not just spin or a difference of opinion — it is an outright falsehood.
This administration knows zilch about economics, taxation, finance, monetary policy, budgeting, inflation – and everything/anything else related to money.
How can the voters be so stupid to elect a doddering moron and a hooker as president and VP?
For you democrats who are so enamored with Biden and heels-up Harris…. Just go ahead and send all of your money to them. You’re apparently of the opinion that they know better than you about how to spend your money.
Didn’t Newsom say the state was going to send out $400 payments to residents in August to compensate for the gas price hike? Anyone get such a payment?
I think it is coming out next month … he wanted it closer to the elections so that the cash would be in your pocket when you voted.
You know, ‘buying votes!’
For those that qualify. California: Up to $1,050 Rebate
California’s new budget includes payments of $350 for individual taxpayers who make $75,000 or less. Couples filing jointly will receive $700 if they make no more than $150,000 annually. Eligible households will also receive an additional $350 if they have qualifying dependents.
Taxpayers with incomes between $75,000 and $250,000 will receive a phased benefit with a maximum payment of $250. Those households can get up to an additional $250 if they have eligible dependents.
Californians can expect to receive payments between October 2022 and January 2023 via direct deposit and debit cards.
But I still LOVE IT…
Time to send the airplanes and buses to California, right on NewScum’s front door!!!
Not seeing it
Things are so much better now!
Why? Because Joe said so!
OK, once again I have been too subtle here. Permit me to slow it down:
When gas prices go up, the Biden administration and it’s spokesperson claim it’s Putin’s fault and refer to it as “ The Putin Price Hike”.
When that didn’t play well and was easily debunked, they blamed the evil energy companies for price gouging. Now anyone with even a rudimentary ability to use Google, can see that hub prices have tripled in 12 months. So much for the evil energy company narrative.
Then, with a minor reduction in energy cost fueled (so to speak) by releasing crucial emergency oil reserves, Biden takes a victory lap. Of course he didn’t mention he’s exporting 10% of US natural gas reserves for profit and therefore driving prices up for US citizens. America last, the Biden mantra.
Stupidity has a certain charm, ignorance does not.
Seems this administration has more than its share of idiots.
If their lips are moving, you are losing. Government is your greatest adversary. They steal, lie, and stomp anyone who resists.
Martha’s Vineyard votes illegal aliens off the island!
MA. Gov. sends 150 National Guardsmen to move 50 illegal aliens to mainland military base…. only needed 150 troops?
And speaking of lies…….
” Biden’s own former special envoy to Haiti, Daniel Foote, revealed that the Biden administration scuttled Haiti’s plans for free elections and backed the country’s dictator in order to get the country to agree to accept deportees. If Haitians are not flooding across the US border why did the US government have to do such a grotty deal to return these illegal immigrants?”
https://nypost.com/2022/09/15/with-marthas-vineyard-meltdown-maybe-dems-finally-get-immigration-problems/
Guess the elites and the democrats there aren’t really in favor of their claimed diversity and inclusion. Then they claim that Texas is just doing this for political gain. Yet even the illegals are claiming the border is wide open – contrary to Harris the ho’s claims.
More NIMBYISM and double standards.
Dems are just raiding the strategic oil reserve, which is meant to be used in a catastrophe alone.
They would happily squander vital emergency assets in order to get a weak propaganda win.
Still they refuse to expand domestic oil production.
Lower gas prices? Are you kidding? Gas is up by $2.50 a gallon, it goes down 20 cents and it is lower? Right!
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