The local Consumer Price Index fell 0.75% from October. The last time there was a bigger drop was a 1% fall in November 2012!
Consumers in Los Angeles and Orange counties got a “bargain” in November: local inflation’s largest one-month drop in 10 years.
November’s decline is relatively good news as inflation cools from highs not seen in four decades. The drop might nudge the Federal Reserve to slow the pace of interest rate hikes designed to cool an overheated economy. And adding to this pocketbook pain are the still-rising food expenses, which had November’s largest local price gains.So where were November’s “deals” – spending niches with noteworthy one-month price drops?
Locally, this particular cost yardstick fell 0.24% in November. Its 5.2% jump in a year is down from 2022’s 6.3% high.
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