(KTLA) – Residents in a number of cities are still seeing the cost of consumer goods and services rise faster than the rest of the nation, even as the U.S. inflation rate levels off, according to a new study from WalletHub.
The personal finance website compared changes in the Consumer Price Index in 23 major metropolitan areas year over year, and over three recent months, and then created a score based on those figures.
Middle class home buyers are getting priced out of these California cities
Of the 23 cities ranked, WalletHub found that Honolulu and Miami have seen the steepest increases in consumer prices, including groceries, rent, and automobiles, while Detroit and Anchorage have seen prices cool the most.
The U.S. inflation rate hit a 40-year high after the COVID-19 pandemic but has recently settled at 3.5% – still above the Federal Reserve’s target of 2%.
Cities With the Biggest Inflation Problems Overall Rank Metro AreaTotal Score Consumer Price Index Change(Latest month vs 2 months before) Consumer Price Index Change(Latest month vs 1 year ago) 1Urban Honolulu, HI92.191.50%4.80%2Miami-Fort Lauderdale-West Palm Beach, FL90.631.40%4.90%3Riverside-San Bernardino-Ontario, CA81.251.40%4.30%4St. Louis, MO-IL76.561.60%3.60%5Dallas-Fort Worth-Arlington, TX75.000.90%4.90%5Seattle-Tacoma-Bellevue, WA75.001.20%4.30%7Philadelphia-Camden-Wilmington, PA-NJ-DE-MD73.441.60%3.40%8Los Angeles-Long Beach-Anaheim, CA70.311.20%4.00%9Boston-Cambridge-Newton, MA-NH68.751.50%3.30%10Baltimore-Columbia-Towson, MD64.061.70%2.60%11Atlanta-Sandy Springs-Roswell, GA62.501.30%3.30%12Tampa-St.
