FYI Miami: March 30, 2017
Below are some of the FYIs in this week’s edition. The entire content of this week’s FYIs and Insider sections is available by subscription only. To subscribe click here.
CONSUMER PRICES SOAR: The consumer price index for South Florida jumped 4% at the end of February from February 2016, the US Bureau of Labor Statistics reports. It was the highest year-over-year consumer price increase in South Florida since August 2011, said Janet S. Rankin, the bureau’s regional commissioner. The rise was far above regional and national increases. For the South as a whole, the increase for the one-year span was 2.8% while the nation as a whole saw an increase of 2.7%, the bureau said. If the costs of food and energy were factored out of South Florida spending, the total increase for the 12 months would have been 3.7%, which the bureau said reflected price increases for shelter and medical care. The cost of shelter in South Florida rose 4.6% in the year, reflecting increased rent cost averaging 5.7% and homeowners’ cost increases of 4.3%. The cost of medical care for the area soared 19.1% in the 12 months, the bureau said. The cost of transportation rose 9.7% overall, which included a 26.3% rise in the cost of motor fuel. Food costs, meanwhile, fell one-tenth of one percent.
BEACH HOTSPOTS RENOURISHED: The US Army Corps of Engineers’ Jacksonville District has completed the Miami Beach erosional hotspots beach renourishment. The $11.9 million project was part of the ongoing Miami-Dade County Beach Erosion Control and Hurricane Protection Project. Eastman Aggregate Enterprises LLC of Lake Worth placed 233,300 cubic yards of beach-quality sand from an upland sand mine on more than 3,000 feet of critically eroded shoreline near 46th Street and 54th Street in Miami Beach.
TAKE A LOAD OFF: Miami city commissioners have approved a deal to buy recliner chairs for fire stations throughout the city. Commissioners have accepted a Dec. 27, 2016, bid from La-Z-Boy Inc. for the purchase of La-Z-Boy recliner chairs, as needed, for an initial contract of two years, with the option to renew for two additional two-year periods, allocating funds from the City of Miami Department of Fire-Rescue. The estimated annual cost for this contract is $30,000.
GAS PRICE LULL: Gasoline prices in Miami this week remained the same as a month earlier, though they fell 1.1 cents a gallon from the prior week, GasBuddy price tracking service said. The price now averages $2.40 per gallon, versus an average of $2.28 per gallon for the nation as a whole, the service said. “For just the first time since 2009, average gasoline prices today stand cheaper than on Feb. 15, traditionally the day of the lowest gasoline prices of the season,” said Patrick DeHaan, GasBuddy.com senior petroleum analyst.