Renters’ Costs Fell In SoCal For The First Time In 14 Years

For the first time in 14 years Southern California renters costs fell at an annual rate.  

Local renters’ costs fell 0.1% last month compared to October 2008.  A similar size drop has not been seen since November 1995. 

Southern California has seen drops in other areas as well. Household energy costs throughout Southern California fell at a 0.7% annual rate in October and household furnishings and operations costs fell at an 2.5% annual rate in October – the biggest drop in Southern California since April 2008.

SoCal total inflation rate for all goods and services fell at a 0.4% annual rate in October. It’s the eighth consecutive drop, but the smallest of all of the drops.