September 12, 2024 6:00am EDT
Where is inflation the highest? Chicago and New York rank near the top
Cities in the Northeast and Midwest experienced the highest rates of inflation in August, with Chicago seeing the most price growth
By Eric Revell FOXBusiness
Americans are facing vastly different inflation rates depending on where they live in the U.S., with the latest data showing that consumers in the Northeast and Midwest are facing more inflation than their peers in the South and West.
The Labor Department on Wednesday released its inflation report for August which found that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – was up 2.5% from a year ago for the U.S. as a whole, continuing the trend of slowing inflation from recent months.
However, the pace of inflation is much faster in certain parts of the country than it is in other areas.
The Northeast saw 3.4% inflation in August compared to a year ago, the fastest of the four regions analyzed by the Bureau of Labor Statistics and well above the national inflation rate. Within the region, the Middle Atlantic had 3.4% inflation, while New England fared slightly better at 3.3%.
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https://www.foxbusiness.com/economy/where-inflation-highest-chicago-new-york-rank-near-top
