Food, Gas And Housing Prices Up
San Diego’s housing prices have skyrocketed during the COVID-19 pandemic. And now we find out that other costs, such as gas and food, have also been increasing, bringing San Diego’s inflation rate to one of the highest in the nation.
From March 2020 to March 2021 prices increased 4.1% overall, compared to 2.6% nationwide.
Some economists have warned of inflation increasing due to stimulus money being infused into the economy. But, University of San Diego economist Alan Gin told The San Diego Union-Tribune that the inflation rate hike may be more of a reawakening of the local economy than a red flag.
But U-T business reporter Phillip Molnar wrote that an inflation rate above 4% is rare for the San Diego metro area.
Molnar joined Midday Edition on Wednesday to explain why San Diego's rate of inflation is one of the highest in the nation.