S. Fla. inflation rate lower than national average
By Florida Business Journal - January 15, 2010South Florida's beleaguered housing prices and cheaper clothing helped hold down the rate of inflation in the region compared with the national average in 2009, the federal Bureau of Labor Statistics reported Friday.
Nationwide, inflation was up 2.7 percent, while the increase was 2.1 percent in South Florida on a seasonally unadjusted basis.
The housing component was down 1.1 percent in South Florida, but down only 0.3 percent nationwide.
Apparel costs were down 4.9 percent in South Florida, compared with a 1.9 percent increase nationwide. Notably, apparel costs were down 8.1 percent in South Florida in the last two months of the year, which may reflect holiday sales and a more value-oriented mix of merchandise.
Food and beverage costs were up 0.4 percent in South Florida and down 0.4 percent nationwide. Medical costs were up 2 percent in South Florida and 3.4 percent nationwide.
Food and energy costs have spiked since July, partially a reflection of a rebound in gasoline prices. The average price of a gallon of regular unleaded gasoline in Florida is $2.80, up from $2.65 a month ago, according to AAA’s Fuel Gauge Report. Gas prices in the tri-county area are higher, with Miami at $2.85, Fort Lauderdale at $2.84 and West Palm Beach at almost $2.88 a gallon.
The U.S. energy index rose 18.2 percent last year, compared with a 21.3 percent drop in 2008. The gasoline index sub component rose 53.5 percent in 2009, compared with a 43.1 percent drop in 2008.
<== Back
