Inflation is finally beginning to subside in the U.S., with the annual rate dropping to 3% in June, according to the U.S. Bureau of Labor Statistics (BLS).
But for millions of Americans, prices remain far too high. And you are especially likely to feel the heat of higher costs if you live in any one of a handful of specific cities.
Here are the cities where inflation is soaring, according to BLS data for major metropolitan areas in the U.S.
Note that the BLS does not report inflation for all major metro areas every month. So, some of the following inflation numbers are from May and others are from June.
1. Tampa-St. Petersburg-Clearwater, FL
Annual inflation rate in this major metropolitan area: 7.3% as of May
Category with the highest annual inflation rate in this area: Housing (12%)
The Tampa Bay metro area is one of a couple of places in Florida where inflation has surged.
If higher costs are pinching your wallet — whether you live in Florida or elsewhere — check out “10 Sure-Fire Ways to Beat Inflation.”
2. Miami-Fort Lauderdale-West Palm Beach, FL
Annual inflation rate in this major metropolitan area: 6.9% as of June
Category with the highest annual inflation rate in this area: Housing (14.1%)
As in the Tampa Bay area, high housing costs are responsible for much of inflation’s toll in Southeast Florida.
If you are worried about the expense of a new home, stop by Money Talks News’ Solutions Center and search for a great mortgage rate that can lower your home loan costs.
3. San Diego-Carlsbad, CA
Annual inflation rate in this major metropolitan area: 5.2% as of May
Category with the highest annual inflation rate in this area: Apparel (10.2%)
If you plan to keep up with the latest styles in the San Diego area, you will have to pay for it. Apparel prices are driving costs higher here, followed by housing (10.1%).
Nationwide, certain apparel services are one of the “5 Things That Just Broke Inflation Records.”
Other places getting hit hard by inflation
Here are a few more major metro areas where inflation is running especially high, with the latest annual inflation rate for each area:
- Denver-Aurora-Lakewood, CO: 5.1% as of May
- Detroit-Warren-Dearborn, MI: 4.7% as of June
- Dallas-Fort Worth-Arlington, TX: 4.7% as of May
- Atlanta-Sandy Springs-Roswell, GA: 4.6% as of June
- Seattle-Tacoma-Bellevue, WA: 4.6% as of June
Add a Comment
Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.