That recent pay raise you’re enjoying may actually be costing you.
Southern California worker bees are seeing some of the nicest increases in wages since the recession ended. But employers must somehow pay for higher labor expenses, and it appears bosses are opting to raise local prices.
Look at April’s consumer price index for the five-county region. Year-over-year, the cost-of-living was up 2.7 percent, the third consecutive month at this level. The last time local inflation was this strong was 2011.
Surging housing costs are the biggest factor, with the index showing the cost of the roof over your head jumping 4.3 percent from April 2016. Higher gasoline prices don’t help a shopper’s budget either.
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