Bay Area consumer prices skyrocket at 21-year highs
Consumer prices in the Bay Area skyrocketed in April and nearly matched the annual increase posted in February, which was a 21-year high, a grim new government report revealed on Wednesday.
The Bay Area inflation rate jumped at an annual pace of 5% in April, the U.S. Bureau of Labor Statistics reported on Friday.
The yearly increase in consumer prices in April was only slightly lower than the 5.2% annual rise that the government reported for the Bay Area in February, the federal agency reported.
The increases posted so far this year were the highest since mid-2001, according to this news organization’s analysis of government reports stretching back to 1990.
Costs for food such as meat, poultry, fish, cereal and dairy products, along with massive increases in gasoline prices and sharp jumps in monthly PG&E utility bills, coalesced to shove the Bay Area annual inflation rate higher by 5% in April.