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Understanding the Cost of Living
The cost of living in a particular area affects everything from housing and groceries to transportation and healthcare. According to the Bureau of Labor Statistics, the Consumer Price Index for All Urban Consumers (CPI-U) increased by 5.4% over the past year as of September 20233. This rise in the cost of living highlights the importance of being aware of price changes in your neighborhood to manage your budget effectively. By visiting websites that track local economic trends, you can stay informed about these shifts and adjust your spending habits accordingly.