South Florida prices in October rose by 2.7% compared to last year. That’s slightly higher than the regional inflation rate two months ago.
WLRN’s Senior Economics Editor Tom Hudson reports that price increases may be slowing, but prices are not going down.
"It’s like driving down the expressway and hitting traffic. You’re still moving forward, just much slower. There are two main reasons the regional inflation rate has slowed," Hudson said. "One is higher interest rates. The second is the comparisons this year to the much higher inflation rates a year ago."
Regional housing costs are up 4.8% from a year ago. That continues to be the biggest contributor to inflation.
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This is a News In Brief report. Visit WLRN News for in-depth reporting from South Florida and Florida news.