The “Consumer Price Index for All Urban Consumers” is an index published by the Bureau of Labor Statistics that measures the average change over time in the prices paid by urban consumers for goods and services. This index is often used as a measurement of inflation. The Bureau of Labor Statistics publishes indexes for certain metropolitan and regional areas, one of which is the “San Francisco-Oakland-Hayward Area.” This index measures changes in prices on a more local level and more closely reflects inflation experienced by City residents and property owners. The Consumer Price Index for All Urban Consumers for the San Francisco-Oakland-Hayward Area can be found on the Bureau of Labor Statistics website: https://www.bls.gov/regions/west/news-release/consumerpriceindex_sanfrancisco.htm#tableA.
The Bureau of Labor Statistics publishes the Consumer Price Index for All Urban Consumers for the San Francisco-Oakland-Hayward Area (“CPI”) for the months of February, April, June, August, October, and December of each year. For each of these months, the updated information is usually published 10 days after the month ends. The relevant number for the purposes of the Rent Stabilization Ordinance is the most recent 12-month percent change. In the example below, the “most recent 12-month increase” is 5.7% for August 2022.
