Stubborn and steady. That may be the best way to describe inflation last year in South Florida.
Consumer prices rose 2.8% in December compared to a year ago. That’s a small tick up from what the annual inflation rate was in October.
WLRN’s Senior Economics Editor Tom Hudson found that while grocery and gas prices have been falling, so-called “sticky” prices aren’t.
"Stuff like medical services and restaurant meals tend to change prices slowly and they were still rising last month. Housing remains the sticking point for the inflation data, though," Hudson said. "Stripping that out, and the overall inflation rate remained below 2%, which is generally thought to be a healthy level."
South Florida had the highest inflation rate in the nation two and a half years ago. Today, it is the 10th highest compared to other large metro areas.
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This is a News In Brief report. Visit WLRN News for in-depth reporting from South Florida and Florida news.