Drop Means More Than Just Cheaper Gas

Orange County residents continue to benefit from lower oil prices. In the past year, inflation in the five-county Southern California region, as measured by the consumer price index, has risen just 1.2%. The biggest reason is that gasoline prices plunged 10.3% through February, offsetting a 2.3% annual gain in apparel prices and a 2% increase in housing costs.

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Patrice Apodaca covers economic issues for The Times. She can be reached at (714) 966-5979 and at patrice.apodaca@latimes.com