Inflation has settled in at 2-point-4 percent, a level last seen in early 2021. Price growth today is less than a third of what it was during the worst of the inflation crisis. And there are signs this crisis may be over.

Californians have weathered over three years of higher prices. But according to the American Community Survey, Californians report their own personal finances are relatively stable.

After accounting for inflation, median income fell in much of the Central Valley, including in the Fresno, Modesto, Merced, and Stockton metros.

Wages have grown the most in some of the lowest-wage sectors in California. The average hourly wage in leisure and hospitality businesses has increased 19% increase, though only 3% after inflation.

Locally, WalletHub found the Riverside-San Bernardino-Ontario area has the 4th lowest inflation problem. It compared 23 major MSAs (Metropolitan Statistical Areas) across two key metrics involving the Consumer Price Index. It ranked 20th among the 23 largest MSA’s.

Story Date: November 19, 2024