People are fleeing the Bay Area. Businesses are fleeing the Bay Area.
This is one of the highest cost of living areas of the nation. Rents are high, taxes, food and crime are up.
Thanks to whacko environmental laws—and a Governor working hard to kill off business and families via high energy and water costs—the Bay Area is successful in creating skyrocketed water and energy costs.
“Here are the changes for several key goods and services that people consume in the Bay Area, according to the federal labor agency’s new report. All of the numbers represent an annual change in costs:
— Electricity services such as those provided by PG&E, up 11.2% from October a year ago.
— Natural gas utility services equivalent to those PG&E provides, up 12.7% in a year.
— Food consumed at home, up 0.7%.
— Food consumed away from home, up 5.1%.
— Meat, poultry, fish and eggs, up 1%.
— Fruits and vegetables, up 3.2%.
— Dairy products, down 5.2%.
— Cereals and bakery items, up 0.6%
— Unleaded gasoline, down 13.5%. Gasoline prices have declined for four consecutive months.”
The only good news for these folks is that in about 65 days Donald Trump becomes President, and he might be able to save them from themselves.
Bay Area inflation eases up — but electricity and gas utility costs soar
Story by George Avalos, MSN.com, 11/13/24 https://www.msn.com/en-us/money/markets/bay-area-inflation-eases-up-but-electricity-and-gas-utility-costs-soar/ar-AA1u2qxK?ocid=finance-verthp-feeds
Nov. 13—Although costs for electricity and gas services soared in October, Bay Area consumer prices suggest inflation in the region is starting to ease a bit.
Bay Area inflation rate chart
Consumer prices in the Bay Area rose last month by 2.4% compared with a year ago, a smaller increase than the upswing of 3.8% in April, 3.2% in June and 2.7% in August, the U.S. Bureau of Labor Statistics reported Wednesday.
Here are the changes for several key goods and services that people consume in the Bay Area, according to the federal labor agency’s new report. All of the numbers represent an annual change in costs:
— Electricity services such as those provided by PG&E, up 11.2% from October a year ago.
— Natural gas utility services equivalent to those PG&E provides, up 12.7% in a year.
— Food consumed at home, up 0.7%.
— Food consumed away from home, up 5.1%.
— Meat, poultry, fish and eggs, up 1%.
— Fruits and vegetables, up 3.2%.
— Dairy products, down 5.2%.
— Cereals and bakery items, up 0.6%
— Unleaded gasoline, down 13.5%. Gasoline prices have declined for four consecutive months.
“Food is still expensive,” said Samarra Jackson, a San Jose resident. “You might get 30 cents or 60 cents off for an item, but you’re not really getting much back for your buck. PG&E costs are still pretty extreme.”
Fed officials have set a target of 2% for annual inflation before the nation’s Central Bank can declare victory in its battle against soaring consumer prices.
It might be too soon for the Fed to declare mission accomplished in the inflation battle, warned Brian Wesbury, chief economist with First Trust Advisors, an Illinois-based investment company.
“No matter which way you cut it, inflation (nationwide) is still running above the Fed’s 2.0% target, now for the 44th consecutive month,” Wesbury wrote in a research note. “The embers of inflation continue burning.”
