Home DESTACADOS Cities Where Inflation Is Rising The Most

Cities Where Inflation Is Rising The Most

by Soraya Alcalá

, Financial Writer

In 2022, Americans are dealing with sky-high inflation, which hit a 40-year high earlier this year. Though inflation has started to slightly trend downward due to factors like the Federal Reserve rate hikes, the year-over-year inflation rate was still a whopping 8.3% in August. This high inflation is driven by a variety of factors, including the continued presence of the COVID-19 pandemic, the war in Ukraine and labor shortages. The government is hoping to continue to rein in inflation with additional aggressive interest rate hikes this year, but exactly how much of an effect that will have remains to be seen.

Inflation is rising more quickly in some places than others, though. In order to determine the cities where inflation is rising the most – and thus is the biggest problem – WalletHub compared 23 major MSAs (Metropolitan Statistical Areas) across two key metrics related to the Consumer Price Index, which measures inflation. We compared the Consumer Price Index for the latest month for which BLS data is available to two months prior and one year prior to get a snapshot of how inflation has changed in the short and long term.

Overall Rank  MSA Total Score  Consumer Price Index Change
(Latest month vs 2 months before)
 
Consumer Price Index Change
(Latest month vs 1 year ago)
 
1 Phoenix-Mesa-Scottsdale, AZ 92.11 0.80% 13.00%
2 Atlanta-Sandy Springs-Roswell, GA 87.59 1.30% 11.70%
3 Tampa-St. Petersburg-Clearwater, FL 84.16 1.30% 11.20%
4 Miami-Fort Lauderdale-West Palm Beach, FL 72.84 0.40% 10.70%
5 Dallas-Fort Worth-Arlington, TX 69.20 1.00% 9.40%
6 Riverside-San Bernardino-Ontario, CA 68.71 1.10% 9.20%
7 Denver-Aurora-Lakewood, CO 67.12 1.70% 8.20%
8 Baltimore-Columbia-Towson, MD 66.79 0.10% 10.20%
9 Minneapolis-St.Paul-Bloomington, MN-WI 62.74 1.20% 8.20%
10 Houston-The Woodlands-Sugar Land, TX 61.99 0.10% 9.50%
11 Seattle-Tacoma-Bellevue, WA 57.69 0.00% 9.00%
12 Washington-Arlington-Alexandria, DC-VA-MD-WV 57.07 1.10% 7.50%
13 San Diego-Carlsbad, CA 56.57 1.20% 7.30%
14 Chicago-Naperville-Elgin, IL-IN-WI 55.44 -0.10% 8.80%
15 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 51.53 0.00% 8.10%
16 Detroit-Warren-Dearborn, MI 50.57 -0.50% 8.60%
17 Boston-Cambridge-Newton, MA-NH 50.13 0.70% 7.00%
18 St. Louis, MO-IL 49.17 0.20% 7.50%
19 Urban Honolulu, HI 47.89 0.60% 6.80%
20 Los Angeles-Long Beach-Anaheim, CA 47.22 -0.10% 7.60%
21 New York-Newark-Jersey City, NY-NJ-PA 40.38 -0.10% 6.60%
22 San Francisco-Oakland-Hayward, CA 30.70 -0.50% 5.70%
23 Anchorage, AK 13.01 -4.00% 7.60%

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