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Experts tell Assembly inflation and tariffs are squeezing California households
Summary
Panelists told the Assembly Committee on Economic Development that pandemic-era inflation, high baseline prices in California and newly announced tariffs are reducing household purchasing power; experts urged targeted aid and monitoring.
California households face sharply higher prices that are cutting into paychecks and household budgets, expert witnesses told the Assembly Committee on Economic Development, Growth and Household Impact at an informational hearing.
Sarah Bone, an economist and senior fellow at the Public Policy Institute of California, told the committee that persistent price increases since the pandemic are the principal driver of household concern. "Prices today in California are about 23% higher than they were in January 2020," Bone said, and noted that food and energy costs each have risen about 28%. She cited PPIC survey results showing 69% of Californians expected bad economic times over the next 12 months and said 30%…
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