Study Says Los Angeles-Long Beach Metro Area One of the Least Affected by Inflation in the State

 

A study released this week by the website SmartAsset ranked the Los Angeles-Long Beach-Anaheim metro area as the fourth region least affected by inflation in the state.

smartassetSmartAsset looked at the change in both cost of living and income over a 10-year time period (2004-2014) in metropolitan areas throughout the country, looking at the price for a “basket of goods,” consisting of daily household items like milk, shampoo and rent. The site also calculated the average per capita personal income in each city for 2004 and 2014, as well as purchasing power (average per capita income divided by the cost of living in 2004 and 2014).

The Long Beach metro area was the fourth least affected, according to the website’s results, behind San Jose-Sunnyvale-Santa Clara (first), Fresno (second), Oakland-Fremont-Hayward (third).

Long Beach’s change in purchasing power measured 20.89 percent, while its average change in cost of living measured 0.84 percent, and its average change in personal income measured 2.77 percent. This made for an inflation index rating of 53.52 percent.

The San Francisco, San Diego, Bakersfield and Riverside-San Bernardino metro areas ranked fifth, sixth, seventh and eighth as cities least affected by inflation in California, respectively.

Nationally, the San Jose-Sunnyvale-Santa Clara metro area was the only California region that ranked as a top 10 city least affected by inflation, at sixth in the nation with a 78.02 inflation index rate.



Share this:


NEVER MISS A STORY