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Inflation Tracker August 21, 2025
July data for the US show annual inflation remained above pre-pandemic averages with the downward trend seen since mid-2022 slowing. Between June 2024 and June 2025, prices for US consumers grew by 2.7% and prices for CA consumers grew by 3.0%. There are some differences between the source of price changes for US and CA consumers: e.g., gasoline prices did not decline as much in CA over the last year as they did in the rest of the country. Consumer expectations about inflation in the next one to five years have fallen after spiking in April and May but remain elevated.
Updated Inflation Outlook January 22, 2023
Based on the most recent economic data, we now estimate that annual inflation will drop to about 4 percent by the second quarter of 2023.
2017 May Revision: LAO Economic Outlook May 11, 2017
We discuss our new economic outlook, released as part of our response to the Governor's 2017 May Revision.
May Revision 2016: Economic Outlook May 15, 2016
We discuss the state's economic outlook, including the administration's assessment of the near-term economic outlook in the Governor's May Revision to his 2016-17 budget proposal.
Los Angeles Consumer Prices Up Notably in July August 19, 2015
A spike in gas prices contributed to Los Angeles-area consumer prices rising substantially faster than the nation as a whole in July, according to new federal data.
2014 CA Price Inflation Above U.S., But Still Low February 7, 2015
Consumer price index (CPI) data for all of 2014 is now available.
U.S. Price Inflation Very Low Now January 17, 2015
Inflation in the U.S. economy was very low in late 2014, and further drops in prices are possible in early 2015. We discuss both the risks and benefits of low price growth.