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11 Months of Rising Rents

The Consumer Price Index is reporting the eleventh consecutive month of rent increases in Southern California, according to the OC Register. From the OCR: "According to the Bureau of Labor Statistics, rents in Southern California rose at an annual rate of 1.4% in July. That compares to rising at an annual rate in June of 1.3% after falling at an 0.4% annual rate in 2010." There has been a measure of relief for renters recently, however: "Month-to-month, this renting slice of the local CPI rose from July to June just 0.1% after being flat May-to-June." [OC Register]