Bay Area consumer prices cooled off in a big way during April, offering some hope that the region’s brutally high inflation rate has begun to ease after months of mammoth cost increases, the government reported Wednesday.
The inflation rate in the Bay Area rose at a yearly pace of 4.2% in April, the U.S. Bureau of Labor Statistics stated Wednesday in a new report on consumer prices.
The Bay Area inflation rate in April, measured over a one-year period, was the smallest annual gain in more than a year, this news organization’s review of the federal agency’s statistics shows.
In December 2021, consumer prices in the Bay Area also posted a yearly gain of 4.2%
Bay Area consumer prices also appear to be easing on a short-term basis.
Over the last two months, consumer prices rose by 0.4%. In February compared with December, the two-month change worked out to an increase of 1.8%.
Source: www.mercurynews.com