One of the most common tools to measure inflation rates is the Consumer Price Index (CPI), which measures the change of price in consumer goods and services over time. There are certain metropolitan areas in the U.S. that have had significant changes in CPI.
WalletHub conducted a recent study on the top metropolitan areas with the largest changes in inflation rates based on taking the weighted average of the 2-month CPI increase and the one-year increase.
Detroit-Warren-Dearborn, MI comes in at number five with a total score of 61.03, then at four is Seattle-Tacoma-Bellevue with 64.50. Atlanta-Sandy Springs has a score of 67.86, while also having the lowest CPI change over a year span.
The area with the second highest change in inflation on WalletHub’s scale is Denver-Aurora-Lakewood, CO with a total score of 77.21 and also having the highest CPI change in a 2-month span compared to the other four areas. Miami-Fort Lauderdale-West Palm Beach, FL has the highest total score of 96.43, while also having the largest CPI change in a year’s span with 7.80 percent.
Although these five cities have been rated with the highest inflation increases, inflation continues to affect many other cities across the U.S.