
Inflation rates across the United States show signs of variation, with the metropolitan area of San Diego-Carlsbad experiencing the most substantial surge. According to a study by WalletHub, which assessed 23 major Metropolitan Statistical Areas (MSAs), San Diego leads with an 87.50 total score on the inflation scale.
WalletHub's analysis, which compared Consumer Price Index (CPI) data spanning from recent months to the prior year, highlighted that the CPI in San Diego increased by 1.60% in the latest month and saw a 3.80% upswing from one year ago. This data seemingly points to San Diego struggling against a steep housing market and elevated energy prices, a factor noted by WalletHub. Supply chain disturbances further compound these issues, with effects felt by consumers citywide.
Local insight from University of San Diego economics professor Alan Gin reinforces the unwelcome reality that San Diego's residents face. Gin told CBS8, "Prices have been rising rapidly here in San Diego, particularly the cost of housing." In addition, food prices, which might have been expected to maintain stability, have also surged unexpectedly in the region.
Despite these concerning trends, San Gin pointed out that when strictly looking year-over-year, San Diego did not rank as the highest in inflation—an important detail that suggests inflationary pressures might be more nuanced than on a month-to-month basis. Additionally, Gin expressed a bit of skepticism regarding the methodology used by WalletHub. "I think the year over year one is more reliable and in that one San Diego was not #1," Gin said. "I think we were 4th year over year. It's not great, but a little bit better than the highest," he stated, as per CBS8.