Community Corner
Inflation Eases In Alameda County
Consumer prices rose just 2.9 percent in June, a huge improvement from earlier in the year.
BAY AREA — Inflation continues to ease in the central part of the Bay Area, the U.S. Department of Labor has announced.
Consumer prices rose 2.9 percent year-over-year in June, down from 4.2 percent in April and 5.3 percent in February in San Francisco, Alameda, Marin, Contra Costa and San Mateo counties.
In the nation's western region, which consists of Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming, prices rose 3.5 percent annually. Nationwide consumers saw inflation of 3 percent between June 2022 and June 2023.
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The persistence of higher prices prompted the nation's central bank on Wednesday to up the range of its target interest rate by a quarter point to 5.25 to 5.5 percent to tame inflation, according to the Board of Governors of the Federal Reserve System.
The central bank aims to keep inflation at about 2 percent over the long term.
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