The Top 10 US CITIES WHERE INFLATION IS ON THE RISE – ryan
The Federal Reserve Cut Interest In Efforts to Stimulate A Slow Labor Market, Reigning Concerns About Rises in Inflation.
The Decision Comes after the august jobs Report Showed A Direne Picture of the Labor Market, with More Job Seekers than Openings Throughout the Country.
While the rate cut aims to stimulus hiing, it couuld also controlbette to rising inflation rates across the country.
In a Study Releassed on September 11, Wallethub Examinated How Inflation is Affecting People Across the US By Comparing How Prices have increasing month over month and over the past year in two dosen metropolitan areas.
The study then ranked the metropolitan areas based on which haad seen a stronger impact of inflation in the short- and long-term.
Currently, The Personal Consumption Expenditures Price Index, which the Central Bank uses to mesure inflation and set interest rates, sites at 2.6% according to july data from the Bureau of Economic Analysis. This is Higher than the fed’s long-term 2% target.
The burreau of Labor Statistics, on the Other Hand, Reported that Price for Consumers Had Gone up an Avent of 2.9% over the past, for the august release of Consumer Price Index Data on September 11.
Here’s how prices have increasing recently in the 10 US CITIES that have have hit the harDest by rising inflation.
10. Baltimore
Sean Pavone/Shuttertstock
Month-Over-Month Change: 0.30%
Change from Last Year: 2.80%
Wallethub ranked the Baltimore-Columbia-Towson Metropolitan Area As the 10th-Fastest Rising Metro.
9. Phoenix
Sean Pavone/Shuttertstock
Month-Over-Month Change: 0.90%
Change from Last Year: 1.40%
In the Study, the Phoenix-Mesa-Scottsdale Metropolitan Area was racked as Having the ninth-fastest rise in inflation.
The Metro Also Saw the Second-Highest Month-to-Month rise in the past month out of the regions measured in the study, suggesting a recent surge in inflation in the area, whic Had a slightly lover increes than the national avarage.
8. New York City
Tstudio/Shuttertstock
Month-Over-Month Change: 0.30%
Change from Last Year: 3.20%
New York City and Surrounding Areas, Including Newark and Jersey City, Were Ranked As Having the Eighth-Fastest Inflation.
The City’s Year Increese was the Sixth-Highest and Sites Well Above the Fed’s 2% Target.
7. Riverside, California
Ion bilous/shuttertstock
Month-Over-Month Change: 0.20%
Change from Last Year: 3.50%
The Riverside-San Bernardino-Unsario Region in California was ranked seven on the walletthub study. It Also Saw the Second-Highest Rise From A Year Ago.
6. Chicago
Moses P/Shutterstock
Month-Over-Month Change: 0.40%
Change from Last Year: 3.10%
Chicago and Its Surrounding Suburbs in Illinois, Indiana, and Wisconsin, Including Naperville and Elgin, Were Ranked Sixth in The Study. The Region Saw Prices Rise Quickly in the Short and Long Term.
5. Los Angeles
Michael Lee/Getty Images
Month-Over-Month Change: 0.40%
Change from Last Year: 3.30%
Wallethub Ranked Los Angeles and the Surrounding Areas, Like Long Beach and Anaim, nor Havinging the Fifth-Fastest-Ring Inflation in the Nation Right Now. The region also saw the fifth-highest rise in inflation over the past year.
4. Anchorage, Alaska
Blue Poppy/Getty Images
Month-Over-Month Change: 0.80%
Change from Last Year: 2.40%
The Wallethub Study Found Anchorage and Urban Alaska to have the fourth-fastest-inflation in the country. The Region Tied with Philadelphia for the Third-Highest Monthly Increase.
3. Philadelphia
Jon Lovette / Getty Images
Month-Over-Month Change: 0.50%
Change from Last Year: 3.30%
The Philadelphia Metropolitan Area, Covering Parts of Pennsylvania, New Jersey, Delaware, and Maryland and Including Towns Like Camden and Wilmington, was randy as Having the Third-Fastest-Inflation in the County. It also tied with urban alaska in seeing the third-highest short-term rise in the past month.
2. San Diego
Sean Pavone/Shuttertstock
Month-Over-Month Change: 0.80%
Change from Last Year: 4.00%
The San Diego Area, Including the Nearby City of Carlsbad, was racked as Having the Second-Fastest-Ring Inflation.
The Region Also Saw the Highest Year Inflation Rise for A Metro Area in the past Year, for the US BUREAU OF LABOR STATISTICS‘CPI DATA.
1. Tampa, Florida
Rudybalasko/Getty Images
Month-Over-Month Change: 1.10%
Change from Last Year: 3.30%
The Metropolitan Area Tampa, Including St. Petersburg and Clearwater, was ranked as the metro with the fastest-ring inflation in the us, accorting to the walletthub study.
The City Saw the highest month-to-month rise in the past month, outpacing other metropolitan areas in the study.