Local News

Bay Area consumer prices outpace wages in latest report

By August 15, 2019 No Comments
A trip to the grocery store is among the things that got more expensive in June for Bay Area consumers, with prices up 5.1 percent from a year ago. (Photo by bethrosengard/Pixabay)

Living expenses outpaced wages over the 12 months ending in June in the San Jose-San Francisco-Oakland metropolitan area, according to recent data released by the U.S. Department of Labor.

Wages grew by 3 percent while living expenses jumped 3.2 percent, the department reported.

Consumer prices were up an average of 1.6 percent nationwide and 2.7 percent in the West, defined by the Bureau of Labor Statistics as California, Oregon, Washington, Idaho, Nevada, Arizona, New Mexico, Colorado, Utah, Montana, Wyoming, Alaska and Hawaii.

The 3.2 percent jump in consumer prices in the Bay Area was second highest in California trailing only the Los Angeles-Long Beach-Anaheim area where prices were up 3.3 percent.

The cost for tuition, school fees and childcare in the Bay Area was up 10.3 percent between June 2018 and June 2019, outpacing the cost of all other expenses.

Food prices rose by 5.1 percent, housing expenses were up by 2.8 percent, medical care costs increased by 5.4 percent and clothing prices jumped 7.5 percent in the same period.