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Goods' prices rise faster than wages in the Bay Area

Living expenses outpaced wages over the 12 months ending in June in the San Jose-San Francisco Oakland metropolitan area, federal officials announced Wednesday (Aug. 7).

Wages grew by 3% while living expenses jumped 3.2%, according to the U.S. Department of Labor.

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

The 3.2% 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%.

The cost of tuition, school fees and child care in the Bay Area was up 10.3% between June 2018 and June 2019, outpacing the cost of all other goods.

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

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— Bay City News Service

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Goods' prices rise faster than wages in the Bay Area

Uploaded: Thu, Aug 8, 2019, 8:37 am

Living expenses outpaced wages over the 12 months ending in June in the San Jose-San Francisco Oakland metropolitan area, federal officials announced Wednesday (Aug. 7).

Wages grew by 3% while living expenses jumped 3.2%, according to the U.S. Department of Labor.

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

The 3.2% 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%.

The cost of tuition, school fees and child care in the Bay Area was up 10.3% between June 2018 and June 2019, outpacing the cost of all other goods.

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

— Bay City News Service

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