Wednesday, June 17, 2009

May CPI Numbers Released, No Signs of Inflation Yet

The May CPI numbers were released today and for the areas around Santa Barbara we saw a decrease of approximately 1.8% from May of last year to May of this year. The upside is that inflation is still not a concern yet, however that could change by the end of Summer.

What this means for local landlords is that any annual rent increases tied to CPI will see no change this year unless they have a minimum increase in their lease. This is the 4th decrease of the year so far. There was only month showing an increase and that was February.

We actually saw a 0.3% increase in the CPI from April to May. However, on a seasonally adjusted basis, the increase was only 0.1%.

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