Sustainability Infrastructure

Here are the cities where inflation is rising the most

While everyone is feeling squeeze of higher consumer prices, inflation is rising more quickly in some U.S. cities than others.

by Alejandra O’Connell-Domenech | Jan. 12, 2023

Story at a glance

  • Inflation is rising the most quickly in Miami, Tampa, and Dallas, according to a new WalletHub study.  
  • Meanwhile, inflation in Anchorage, Alaska, and Los Angeles, Calif is increasing the slowest, according to the study.  
  • Inflation in the United States reached a 40-year high last June of 9.1 percent.

People across the United States are feeling the crunch of inflation which reached a 40-year high last June.  

But inflation is rising more rapidly in some cities compared to others, according to the new WalletHub study released Thursday.  

Inflation is rising the most quickly around the Miami-Fort Lauderdale-West Palm Beach area followed by the Tampa-St. Petersburg-Clearwater area in Florida, according to the study.  

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Inflation in Dallas, Texas is also increasing quickly as well as in Riverside, Calif and Seattle, Wash.  

Meanwhile, inflation is rising the slowest in Anchorage, Alaska. And Los Angeles, Calif.  

WalletHub study crafters compared Consumer Price Index Changes in 23 Metropolitan Statistical Areas to determine the cities where inflation is rising the most rapidly in the country, according to a statement. 

Last year’s inflation stemmed from multiple factors including supply-chain issues from the COVID-19 pandemic, China’s COVID-19 shutdowns, government spending on COVID-19 relief and the war in Ukraine, according to John L. Campbell, professor emeritus at Dartmouth College.  

Another contributing factor is the low unemployment rate in the United States, according to Campbell.  

“Businesses continue to have trouble hiring workers, which means businesses must pay higher wages to attract them,” said Campbell in a statement. “That increases the cost of doing business, which is often passed on to consumers in the form of higher prices.” 

But the rate at which inflation is rising nationally appears to be easing up. Inflation fell again in the United States in December dropping to 6.5 percent on an annual basis from 7.1 percent in November, according to the Bureau of Labor Statistics. 

Here are the 10 cities where inflation is rising the most:  

  1. Miami, Fla.  
  1. Tampa, Fla.  
  1. Dallas, Texas 
  1. Riverside, Calif.  
  1. Seattle, Wash.  
  1. Phoenix, Ariz.  
  1. Boston, Mass.  
  1. Denver, Colo. 
  1. Atlanta, Ga 
  1. New York, New York  

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