U-T: San Diego's Inflation Rate Third Highest In US
On a day when the Dow Jones average tumbles more than 700 points, we learn that San Diego’s rate of inflation is among the highest in the nation.
Economists say turmoil in the markets and rising costs are both signs of a coming recession. Investors are looking at a global economy that’s slowing down and Wednesday, a major recession indicator from the bond market.
Meanwhile San Diegans are paying higher prices for fuel, housing and food.
According to analysis by Phillip Molnar, business reporter for the San Diego Union-Tribune, San Diego's rate of inflation is the third highest in the nation, behind San Francisco and Los Angeles.
Although the inflation rate is in the top three in the nation, it is lower than the inflation rate in 2017 and 2018.
Molnar joined KPBS Midday Edition Wednesday to discuss the impact the inflation rate and recession fears could have on the average person.