For the 12 months ending December, the California CPI rose 3.5%, up from 3.4% in November. In the same period, the US CPI rose 3.4% from 3.1% in November.

Price increases, however, vary by consumption expenditure.  Using the same formula applied by Department of Finance in calculating the California CPI, Food Away from Home (restaurants and take out) continues to exhibit much higher price increases as business costs continue to rise especially for energy and labor.  While some restaurants have begun to price in the costs of the state’s new minimum wage—both in the case of fast-food chains directly affected by this increase along with other restaurants that compete for the same labor pool—this associated food inflation is likely to move even higher in the months ahead.

The February average price per gallon of regular gasoline in California rose 12 cents from January to $4.68.  The California regulatory and tax premium above the average for the US other than California ($3.15) eased to $1.52, a 48.3% difference, as the average price in the other states rose somewhat faster at 17 cents per gallon.

In February, California had the highest gasoline price among the contiguous states and DC.  Californians paid $1.86 a gallon more than consumers in Oklahoma, the state with the lowest price.

The February average price per gallon of diesel in California rose 7 cents from January to $5.39.  The California regulatory and tax premium above the average for the US other than California ($3.96) eased to $1.43, a 36.2% difference.

In February, California had the highest diesel price among the contiguous states and DC.

The cost premium above the US (other than California) average price for regular gasoline ranged from $1.34 in the Central Valley Region (average February price of $4.49), to $1.66 in Los Angeles Region (average February price of $4.81).

California average Residential Price for the 12 months ended December 2023 was 28.84 cents/kWh, 89.7% higher than the US average of 15.20 cents/kWh for all states other than California.  California's residential prices rose to the 3rd highest among the contiguous states and DC.

For the 12 months ended December 2023, the average annual Residential electricity bill in California was $1,707, or 71.7% higher ($713) than the comparable bill in 2010 (the year the AB 32 implementation began with the Early Action items).  In this same period, the average US (less CA) electricity bill for all the other states grew only 20.4% ($279).

In 2010, California had the 9th lowest residential electricity bill among the contiguous states and DC.  In the latest data, it rose to the 17th highest.

Residential bills, however, vary widely by region.  Transforming the 2022 data recently released by the Energy Commission, estimated annual household usage is as much as 82% higher in the interior regions compared to the milder climate coastal areas, and substantially higher when comparing across counties.

For the 12 months ended December 2023, California's higher electricity prices translated into Residential ratepayers paying $11.3 billion more than the average ratepayers elsewhere in the US using the same amount of energy.

California average Commercial Price for the 12 months ended December 2023 was 23.95 cents/kWh, 103.5% higher than the US average of 11.77 cents/kWh for all states other than California.  California's commercial prices were the highest among the contiguous states and DC.

California average Industrial Price for the 12 months ended December 2023 was 18.91 cents/kWh, 146.9% higher than the US average of 7.66 cents/kWh for all states other than California.  California's industrial prices were the 2nd highest among the contiguous states and DC.

For the 12 months ended December 2023, California's higher electricity prices translated into Commercial & Industrial ratepayers paying $18.4 billion more than ratepayers elsewhere in the US using the same amount of energy.  Compared to the lowest rate states, Commercial & Industrial ratepayers paid $23.6 billion more.