The inflation rate in the Bay Area has begun to heat up again, fueled by fast-rising prices that scorched the pocketbooks of consumers during October, a forbidding new report released on Thursday shows.
Consumer prices rocketed 6% higher during October compared to the same month the year before, the Bureau of Labor Statistics reported.
After the inflation rate eased a bit and fell by 0.5% from June to August, the rate jumped 1% from August to October, the federal government’s report showed.
Bay Area food prices helped to shove consumer costs higher. Over the 12 months that ended in October, food prices in the region soared 10% higher. That topped the annual increase of 9.6% in food prices over the one-year period ending in August, according to this news organization’s analysis of the report.
