The Los Angeles MSA (LA-Riverside-OC) Consumer Price Index inched up by +0.1% in April following no change in overall prices in March.  Over the past year, prices in the region have declined by -1.3%.  The chief culprit was falling transportation prices which were primarily driven by plunging energy prices, down by -32.1% since April of last year.  On the other hand, core CPI (less food and energy) prices increased by +1.5% during the same period. [Note:  local consumer price index data are not seasonally adjusted]

The above data is used to calculate the annual rent increases on a typical lease.  Many rent adjustment clauses allow for annual increases to fall within a range, such as 3-6% per annum.  Right now, the annual rate of change is zero according to the above data.