The Bureau of Labor Statistics (BLS) reported that year-on-year inflation in March in the US increased 5%, and although it is the lowest increase in the last year, it is still sapping the purchasing power of American families.
WalletHub, the site specializing in financial information, points out that inflation has begun to slow slightly due to factors such as the Federal Reserve rate hikes, but still at 40-year record highsdriven by a variety of factors, including the continued presence of the Covid-19 pandemic, the war in Ukraine and labor shortages.
However, inflation is rising faster in some places than othersand to determine the cities where inflation is rising the most, and therefore the biggest problem, WalletHub compared 22 major MSAs (Metropolitan Statistical Areas) on two key metrics related to the Consumer Price Index, which measures inflation.
The site compared the last month’s Consumer Price Index for which BLS data is available with two months prior and one year prior. to get a snapshot of how inflation has changed in the short and long term.
The analysis shows that these are the cities where inflation is rising the most:
MSA: (1) Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Total score: 84.62
CPI Change (Last month vs 2 months before): 2.00%
CPI change (last month vs. 1 year ago): 6.90%
MSA: (2) Detroit-Warren-Dearborn, MI
Total score: 83.30
CPI Change (Last month vs 2 months before): 1.90%
CPI change (last month vs. 1 year ago): 7.00%
MSA: (3) Phoenix-Mesa-Scottsdale, AZ
Total score: 81.82
CPI Change (Last month vs 2 months before): 1.20%
CPI change (last month vs. 1 year ago): 8.50%
MSA: (4) Seattle-Tacoma-Bellevue, WA
Total score: 81.56
CPI Change (Last month vs 2 months before): 1.40%
CPI change (last month vs. 1 year ago): 8.00%
MSA: (5) Atlanta-Sandy Springs-Roswell, GA
Total score: 76.14
CPI Change (Last month vs 2 months before): 1.50%
CPI change (last month vs. 1 year ago): 7.20%
MSA: (6) Tampa-St. Petersburg-Clearwater, FL
Total score: 71.85
CPI Change (Last month vs 2 months before): 1.10%
CPI change (last month vs. 1 year ago): 7.70%
MSA: (7) Houston-The Woodlands-Sugar Land, TX
Total score: 66.00
CPI Change (Last month vs 2 months before): 1.90%
CPI change (last month vs. 1 year ago): 5.20%
MSA: (8) San Francisco-Oakland-Hayward, CA
Total score: 64.69
CPI Change (Last month vs 2 months before): 1.80%
CPI change (last month vs. 1 year ago): 5.30%
MSA: (9) Baltimore-Columbia-Towson, MD
Total score: 58.74
CPI Change (Last month vs 2 months before): 1.20%
CPI change (last month vs. 1 year ago): 6.10%
MSA: (10) Dallas-Fort Worth-Arlington, TX
Total score: 58.13
CPI Change (Last month vs 2 months before): 1.30%
CPI change (last month vs. 1 year ago): 5.80%
In the last place of analysis was:
MSA: (22) Los Angeles-Long Beach-Anaheim, CA
Total score: 3.85
CPI Change (Last month vs 2 months before): -0.20%
CPI change (last month vs. 1 year ago): 3.70%
For the evaluation, the weight of the CPI (Last month vs. 2 months before) was 50.00 points, and another equal amount for the CPI (last month vs. 1 year ago).
For more details of the analysis, enter here.
Keep reading:
Walmart customer buys exactly the same products 2 years later and spends 50% more
· The 5 products that increased in price the most in the US in the last year: how to protect yourself from price increases
· BLS reports that March year-on-year inflation was 5% in the United States
