Blame it on gasoline prices, which pushed San Diego County's inflation rate up to 4.7 percent, ending 12 months of declines.
San Diego County's inflation rate rose to 4.7 percent in September, ending a year of declines. The rise was mostly the result of higher gasoline prices, which rose 16 percent over two months, according to data released Thursday by the U.S. Bureau of Labor Statistics’ Consumer Price Index. San Diego's inflation is still down from a year ago when it was 8.2 percent, but up from 4.3 percent in July. San Diego was not alone in increases, with the national average up 0.4 percent to 3.
'If the Federal Reserve is going to continue to be laser-focused on bringing down inflation to under 2 percent,' wrote Bright MLS chief economist Lisa Sturtevant, 'housing will continue to be the stumbling block.' She wrote that if the Fed decides to raise rates again, it will surely increase mortgage payments. Sturtevant wrote she would prefer a strategy where all levels of government, federal and local, focus on increasing housing supply.
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