Americans still struggle with high inflation, which last year reached a peak not seen in 40 years. While inflation has started to slow down a bit thanks to factors such as interest rate hikes by the Federal Reserve (FED), the annual inflation rate in February was still above 6%.
High inflation is caused by many factors, including the consequences of the COVID-19 pandemic, the war in Ukraine and labor shortages. The government hopes to further curb inflation through additional interest rate hikes this year.
Inflation continues to be felt more strongly in some parts of the US than in others. WalletHub compared data from the 22 largest metropolises and, after analyzing key indicators related to the consumer price index, which measures inflation, compiled a ranking of cities where inflation affects their residents the most.
In the first place is the metropolis of Tampa-St. Petersburg-Clearwater, Florida, where consumer prices increased by 8.90% in February compared to the same month last year, followed by the metropolitan area Philadelphia-Camden-Wilmington (including Pennsylvania, New Jersey, Delaware and Maryland), Phoenix-Mesa-Scottsdale, Arizona, third, Detroit-Warren-Dearborn, Michigan, fourth, and Seattle-Tacoma-Bellevue, Washington, fifth.