Inflation was at a low of 6% in February, as per the latest statistics from the Labor Department, but as the Federal Reserve weighs its options for raising interest rates in some cities, according to a study WalletHubInflation is on the rise.
Using the two key metrics from the CPI report (latest month versus two months ago and latest month versus one year ago), WalletHubCompared to Metropolitan Statistical Areas (MSAs) to find out which cities have seen the most inflationary increases.
The ranking is scored out of 100, with 100 being the highest rate of inflation.
States in the US Sunbelt saw a wave of new residents following the pandemic, but are now experiencing some of the highest levels of rising inflation.
Cities where inflation is rising the most (MSA)
- Tampa, St. Petersburg and Clearwater, Florida – 93.4
- Philadelphia, Pennsylvania – 78.2
- Camden, New Jersey – 78.2
- Wilmington, Delaware – 78.2
- Phoenix, Mesa and Scottsdale, Arizona – 78.2
- Detroit, Warren and Dearborn, Michigan- 77.1
- Seattle, Tacoma and Bellevue, Washington – 77.1
- Atlanta, Sandy Springs and Roswell, Georgia – 70.6
- San Diego and Carlsbad, California – 68.4
- Riverside, San Bernardino and Ontario, California – 67.3
- Dallas, Fort Worth and Arlington, Texas – 58.7
- Houston, The Woodlands and Sugar Land, Texas – 57.6
- San Francisco, Oakland and Hayward, California – 56.5
- Boston, Cambridge and Newton, Massachusetts – 53.2
- Baltimore, Columbia and Towson, Maryland – 52.1
- New York, New York – 51
- Newark and Jersey City, New Jersey – 51
- Los Angeles, Long Beach and Anaheim, California – 50
- Denver, Aurora and Lakewood, Colorado – 48.9
- St. Louis, Missouri – 41.3
- Chicago, Naperville and Elgin, Illinois – 40.2
- Minneapolis, St. Paul and Bloomington, Minnesota – 26
- Urban Honolulu, Hawaii – 22.8
Nearly a quarter of home buyers are moving to new metro cities statistics From real estate brokerage Redfin. Reasons home buyers are relocating include high mortgage rates, high home prices and economic uncertainty. Sunbelt cities like Phoenix, Las Vegas and Miami are some of the top destinations for home buyers, while coastal cities like San Francisco, New York and Los Angeles are seeing the biggest exodus. According for Redfin data. Among all major cities, Miami was the most searched destination for home buyers between December 2022 and February 2023.
For the first time since 1957, Florida was the nation’s fastest-growing state, According for the US Census Bureau. The state’s population is projected to grow 1.9% to 22,244,823 between 2021 and 2022, surpassing Idaho, the previous fastest-growing state in the nation.
Inflation fell to 6% in February – but some experts fear the banking crisis could make prices worse.forbes,
Credit: www.forbes.com /