Inflation: The Price on Goods and Services Going Up
2023's Cities Where Inflation Is Increasing the Most
Inflation is a general increase in the prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money
With the year-over-year inflation rate at 5.0% in March, the personal-finance website WalletHub recently released its report on the Cities Where Inflation is Rising the Most, as well as expert commentary.
To determine the cities where inflation is rising the most – and thus is the biggest problem – WalletHub compared 22 major MSAs (Metropolitan Statistical Areas) across two key metrics involving 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.
Rising the Most
1. Philadelphia, PA
2. Detroit, MI
3. Phoenix, AZ
4. Seattle, WA
5. Atlanta, GA
Rising the Least
18. Honolulu, HI
19. Riverside, CA
20. Anchorage, AK
21. Minneapolis, MN
22. Los Angeles, CA
To view the full report and your city’s rank, please visit:
